December 27, 2014 8:53 PM ET

Diversified Financial Services

Company Overview of General Electric Capital Corporation

Company Overview

General Electric Capital Corporation provides various financial products and services worldwide. The company’s Commercial Lending and Leasing segment offers secured commercial loans, equipment financing, and other financial services to companies in a range of industries, including construction, retail, manufacturing, transportation, media, communications, technology, and healthcare, as well as industrial, medical, fleet vehicle, corporate aircraft, construction, office imaging, and other equipment types. Its Consumer segment provides private-label credit cards, personal loans, bank cards, auto loans and leases, mortgages, debt consolidation, home equity loans, deposit and other savings produ...

901 Main Avenue

Norwalk, CT 06851

United States

Founded in 1932

50,000 Employees

Phone:

203-840-6300

Key Executives for General Electric Capital Corporation

Chairman and Chief Executive Officer
Age: 55
President
Age: 54
President and Chief Operating Officer
Age: 50
Chief Financial Officer and Director
Age: 46
Compensation as of Fiscal Year 2014.

General Electric Capital Corporation Key Developments

GE Money Received Interest from Investors

KKR & Co. L.P. (NYSE:KKR) is reportedly bidding for GE Capital Finance Australia Pty Ltd (GE Money). General Electric Capital Corporation has put a price of AUD 1.5 billion for GE Money. Apollo Global Management, LLC (NYSE:APO), Macquarie Group Limited (ASX:MQG) and TPG Capital, L.P. are also showing interest in GE Money.

FlexiGroup, Varde And KKR Bids For GE Capital's Local Operations

FlexiGroup Limited (ASX:FXL), Värde Partners, Inc. and KKR & Co. L.P. (NYSE:KKR) joins race to acquire sales finance, credit cards and personal loans business of General Electric Capital Corporation, sources said. Indicative bids were submitted on December 12, 2014. FlexiGroup, Varde, and KKR are competing against consortium of TPG Capital, L.P., The Carlyle Group LP (NasdaqGS:CG), and The Blackstone Group L.P. (NYSE:BX) and Macquarie Group Limited (ASX:MQG) along with Pepper Australia Pty Ltd, Street Talk reported. Citi has reportedly been retained as advisor by FlexiGroup, Varde and KKR.

FlexiGroup May Not Remain In Race To Buy GE Assets

FlexiGroup Limited (ASX:FXL) may not remain in the race to buy General Electric Capital Corporation's AUD 7.5 billion-plus Australian and New Zealand consumer lending business. Potential suitors have begun digesting the details in the information memorandum for the GE business and have found it could be more profitable than originally thought. Based on a sale struck on a multiple of eight times earnings, a cheque of about AUD 2 billion would need to be written, almost double original estimates. So it is hard to see how FlexiGroup could make a deal work, sources say.Macquarie Group Limited (ASX:MQG) has been in talks about forming a consortium with Pepper Group and York Capital, but the latest expectation is that perhaps The Blackstone Group L.P. (NYSE:BX) could join with Macquarie or even TPG Capital, L.P., while Pepper Australia Pty Ltd. may not be part of the cluster. Other potential bidders are Wesfarmers, KKR & Co. L.P. (NYSE:KKR), Westpac Banking Corporation (ASX:WBC), and for the New Zealand assets only, Heartland Bank Limited.

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