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GE Announces Filing of Registration Statement for IPO of its North American Retail Finance Business - GE announced that it has filed a registration statement with the Securities and Exchange Commission for the initial public offering (IPO) of its North American Retail Finance business
GE Announces Filing of Registration Statement for IPO of its North American Retail Finance Business

 

NewswireToday - /newswire/ - Fairfield, CT, United States, 2014/03/13 - GE announced that it has filed a registration statement with the Securities and Exchange Commission for the initial public offering (IPO) of its North American Retail Finance business. NYSE: GE

   
 
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As previously announced, the IPO is the first step in a planned staged exit from that business. GE currently expects to complete the IPO later in 2014. After completion of the IPO, GE Capital Retail Finance will operate under its new name,“Synchrony Financial,” and the registration statement has been filed under that name.

GE currently is targeting to complete its exit from the Retail Finance business through a split-off transaction in 2015. GE may also decide to exit by selling or otherwise distributing or disposing of all or a portion of its remaining interest in the business. The completion of the IPO and GE’s exit from the business are subject to market conditions and receipt of regulatory and tax reviews and approvals, which could delay the IPO or GE's exit from the business.

The joint book-running managers for the IPO are Goldman, Sachs & Co., J.P. Morgan, Citigroup, Morgan Stanley, Barclays, BofA Merrill Lynch, Credit Suisse and Deutsche Bank Securities. The offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus and final prospectus relating to the offering may be obtained from:

• Goldman, Sachs & Co., 200 West Street, New York, NY 10282, facsimile: 212-902-9316, Attention: Prospectus Department, or by calling 866-471-2526 or emailing prospectus-ny[.]ny.email.gs.com;
• J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, or by calling 866-803-9204;
• Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling 800-831-9146; or
• Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Morgan Stanley Prospectus Department, or by calling 866-718-1649 or emailing prospectus[.]morganstanley.com.

A registration statement relating to Synchrony Financial’s common stock has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. We intend to file amendments to the registration statement with the SEC as the process proceeds.

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any State or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State or jurisdiction.

Caution Concerning Forward-Looking Statements:
This document contains "forward-looking statements" that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance and financial condition, and often contain words such as "target," "expect," "anticipate," "intend," "plan," "believe," "seek," "see" or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, particular uncertainties that could cause our actual results to be materially different than those expressed in our forward-looking statements include: the existence of satisfactory market conditions for the IPO and split-off, the receipt, timing and conditions of regulatory and tax reviews and approvals, the effectiveness of the IPO and split-off registration statements and the absence of adverse developments in or affecting the North American Retail Finance business. These uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.

Contact: Matt Cribbins
P: 203.373.2424 - E: matthewg.cribbins[.]ge.com.

About GE
GE (ge.com) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works.

 
 
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Written by / Agency / Source: General Electric Company

 
 

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GE Announces Filing of Registration Statement for IPO of its North American Retail Finance Business

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Publisher Contact: Russell Wilkerson - GE Capital 
203-840-6420 / 203-581-2114 (mobile) russell.wilkerson[.]ge.com
 
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