PRTODAY / NewswireToday Free press release distribution service network

Written by / Agency / Source: General Electric Company

Check Ads Availability|e-mail Article

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

GE Capital Acquires Sales Finance Portfolios from Citi Retail Partner Cards - Transaction complements GE Capital’s successful Sales Finance business (NYSE: GE)
GE Capital Acquires Sales Finance Portfolios from Citi Retail Partner Cards


NewswireToday - /newswire/ - Norwalk, CT, United States, 2010/10/06 - Transaction complements GE Capital’s successful Sales Finance business (NYSE: GE). NYSE: GE

Your Banner Ad Here instead - Showing along with ALL Articles covering Financial/Legal/Venture Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


Acquisition adds $1.6 billion in assets, financing relationships with 18,000 small and mid-sized business locations in core retail segments.

GE Capital announced today that it has acquired sales finance portfolios from Citi Retail Partner Cards. The purchased portfolios provide consumer financing programs and related services to small to mid-sized retailers and dealers in four main segments that are core to GE Capital’s Sales Finance business: Home Furnishings; Flooring; Consumer Electronics and Heating, Ventilation and Air Conditioning (HVAC).

The Citi portfolios being acquired include nearly three-dozen retail partner relationships that collectively represent more than 18,000 small to mid-sized Main Street merchant locations across the United States.

“This acquisition is right in line with GE Capital’s goal to invest in core, high performing growth businesses where we have deep experience and broad capabilities to grow. Sales Finance is core to GE Capital and has delivered great results, including through the downturn. This strategic transaction, which we expect to be immediately accretive, makes a great deal of sense for GE Capital, adding high-quality assets and merchant relationships to what has been a core growth business for us for decades,” said Mark Begor, president and CEO of GE Capital Retail Finance.

Under terms of the agreement, Citi will provide interim servicing until GE Capital Sales Finance completes the conversion of merchants and cardholder accounts to its own system. Financial terms of the transaction, which has been approved by regulators, were not disclosed.

“Now, more than ever, retailers and their customers want the attractive financing options we provide. Our programs help drive business and enable consumers to budget and pay for purchases over time,” said Glenn Marino, president and CEO of GE Capital’s Sales Finance business. “This acquisition broadens our relationships with retailers and dealers in segments where we have done quite well and have the expertise to manage and smartly grow.”

About GE Capital
GE Capital (NYSE: GE) is one of the world’s largest providers of credit. For over one million businesses, large and small, GE Capital provides financing to purchase, lease and distribute equipment, as well as capital for real estate and corporate acquisitions, refinancings and restructurings. For our 100+ million consumer customers, GE Capital offers credit cards, retail sales finance programs, home, car and personal loans and credit insurance. For more information, visit or follow company news via Twitter (@GECapitalNews).

Based in Kettering, Ohio, GE Capital’s Sales Finance business goes to market as GE Money Sales Finance. It provides credit card programs and financial services to consumers currently at more than 215,000 retail locations through dealers; national, regional and independent retailers; associations; contractors; manufacturers; healthcare practices; and service providers in nearly 20 industries including: automotive, consumer electronics and appliances, elective health care, floor covering, home design and improvement, home furnishings, jewelry, music, powersports, outdoor power equipment and sporting goods. More information can be found at,, and

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 expected future business and financial performance and financial condition, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” or “will.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain, which may cause actual future results to be materially different than those expressed in these forward-looking statements. We do not undertake to undertake to update these forward-looking statements.

Your Banner Ad Here instead - Showing along with ALL Articles covering Financial/Legal/Venture Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


Written by / Agency / Source: General Electric Company


Availability: All Metropolitan Area


Traffic Booster: [/] Quick Newswire Today Visibility Checker


Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

# # #
  Your Banner Ad showing on ALL
Financial/Legal/Venture articles,
CATCH Visitors via Your Competitors Announcements!

GE Capital Acquires Sales Finance Portfolios from Citi Retail Partner Cards

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

GE News Center |
Publisher Contact: Stephen White - GE Capital 
203-750-3441 Stephen.White[.]
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any General Electric Company securities in any jurisdiction including any other companies listed or named in this release.

Financial/Legal/Venture via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Read Latest Articles From General Electric Company / Company Profile

Read Financial/Legal/Venture Most Recent Related Newswires:

Western Union Business Solutions Announce Mark Davis As Head of Australia and New Zealand
Tabarak Investment Capital and Elite Capital & Co. Limited in Discussion to Finance Projects
Consulting Magazine Unveils the Profession’s Fastest Growing Firms At Inaugural Gala
Hills Invest Signs An Agreement with The Afore Profuturo in Mexico
TRA Searches for TPA Acquisition Opportunities
The Recorder Expands Daily Digital News Platform
Profitas, LLC Opens New Location in the San Francisco Bay Area
European Telecoms Market is Stable and Beating Expectations Says Wismuller Gunter Analyst
LexisNexis Announces its Intention to Acquire Intelligize Expanding its Securities and M&A Offering and Continuing to Invest in Analytical Tools
GE Completes Sale of U.S. Restaurant Finance Assets
NYC’s Largest Independent Bookkeeping Firm Hosts Accounting Technology Conference
Lazard Expands Financial Advisory in North America with Acquisition of Canada-based Verus Partners
Miami-Based Advisory Firm Focus Investment Advisors Featured in Business in Focus Magazine
Lexis Securities Mosaic Expands Content to Include UK Filings
South Carolina Accounting Firm Graydon Thompson CPAs Relocates Headquarters to Expanded Offices in Greenville

Boost Your Social Network
& Crowdfunding Campaigns

NewswireToday Celebrates 10 Years in Business


Visit  Intrinsic Executive Search Ltd

Visit  Demyk Lightmod Products, Inc.

  ©2016 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (