BMO, Canada’s fourth-largest bank by assets,... Bank of Montreal (BMO) is to purchase GE Capital's transportation finance business in the United States, the largest financier to the commercial truck and trailer segment in North America, which had net earning assets of $11.5bn at the end of June. The deal will be financed by a combination of debt and equity from BMO, with an option for additional financing. This is part of General Electric's ongoing strategy of reducing the size of its financial business through the sale of most of the assets of its GE Capital unit.
Bank of Montreal (BMO) is to purchase GE Capital's transportation finance business in the United States, the largest financier to the commercial truck and trailer segment in North America, which had net earning assets of $11.5bn at the end of June. The deal will be financed by a combination of debt and equity from BMO, with an option for additional financing. This is part of General Electric's ongoing strategy of reducing the size of its financial business through the sale of most of the assets of its GE Capital unit.