NEWSWIRETODAY Press Release& Newswire Distribution | HOME
MOST TRUSTED NEWSWIRE PRESS RELEASE DISTRIBUTION
PRTODAY / NewswireToday 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 Global Banking Announces Sale of BAC-Credomatic in Central America to Grupo Aval - GE Capital Global Banking announced today that it has reached a definitive agreement to sell BAC Credomatic GECF, Inc. (BAC-Credomatic) to Grupo Aval, Colombia’s largest banking holding group, for $1.9 billion
GE Capital Global Banking Announces Sale of BAC-Credomatic in Central America to Grupo Aval

 

NewswireToday - /newswire/ - London, United Kingdom, 2010/07/15 - GE Capital Global Banking announced today that it has reached a definitive agreement to sell BAC Credomatic GECF, Inc. (BAC-Credomatic) to Grupo Aval, Colombia’s largest banking holding group, for $1.9 billion. 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!


 

The transaction is subject to certain regulatory approvals and other customary conditions, and the parties anticipate closing by the end of 2010.

“This is a good deal for GE, and furthers our objective of reducing the overall size of GE Capital,” said Dmitri Stockton, president and CEO of GE Capital Global Banking. “We have enjoyed working with BAC’s shareholders and their world-class management team to successfully grow the franchise over the previous five years. We believe this transaction will be positive for BAC, and will allow the Bank to focus solely on its excellent prospects for future growth.”

Founded in 1952, BAC International Bank has operations in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama and Mexico, with approximately $5.1 billion in loan assets, and $5.5 billion in deposits. GE was advised in the transaction by Credit Suisse, and Latham & Watkins served as external counsel.

About GE Capital Global Banking
GE Capital Global Banking offers smart, flexible financial solutions to customers in 24 countries worldwide. From credit cards and personal loans, to auto financing, savings products, and many other innovative financial products, GE Capital Global Banking has a rich history of helping our clients and partners meet their business goals and achieve their dreams.

The Global Banking group is part of GE Capital, the global finance unit of General Electric, which offers consumers and businesses around the globe an array of financial products and services. GE (ge.com) is a diversified infrastructure, finance and media company taking on the world’s toughest challenges. For more information, visit gecapital.com or follow company news via Twitter (@GECapital).

For media enquiries, please contact:

GE Capital Global Banking
Bob Rendine – GE Capital Global Banking Communications
T: +44 207 853 1925, E: robert.rendine[.]ge.com.

GE in Latin America
Mariana Gamez
Communications Specialist GE Colombia/Venezuela
Cell phone in Colombia: +57 317 400 5966
Cell phone in Venezuela: +58 424 624 92 54
E: mariana.gamez[.]ge.com.

Claudia Ascencio
Office: +57 1 319 8432
Mobile: +57 313 888 5034
E: cascencio[.]gravitascomunicaciones.com.

Santiago Arrieta
Office: +57 1 319 8419
Mobile: +57 310 248 2007
E: sarrieta@gravitascomunicaciones.com.

 
 
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 Regions (Including Int'l)

 

Traffic Booster: [/] Quick NewswireToday 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 Global Banking Announces Sale of BAC-Credomatic in Central America to Grupo Aval

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 NewswireToday and LINK as the source.
 
Publisher Contact: Robert Rendine - GE Money 
+44 207 853 1925 robert.rendine[.]ge.com
 
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:

ALM’s Law.com Announces 'Lawyerpages,' A Next-Generation AI-Powered Legal Directory and Search Resource for Consumers and Law Firms
AdvisorVault Adds Office 365 to its Consolidated 17a-4 D3P Service
TRA Hires Mark McCool as Regional Sales Consultant
ALM Intelligence Launches New Innovative Legal Market Analysis Reports for Texas and The San Francisco Bay Area
TRA Completes Acquisition of Total Retirement Solutions, Inc.
ALM Intelligence Unveils Redesign of the Award-Winning Legal Compass
TRA Hires Paul Phan as Regional Sales Consultant
TRA Expands Retirement Group Plans Opportunities
TRA Announces the Acquisition of John T. Toomey Associates, Inc.
121 Financial Credit Union Selects NCR Digital Banking for Consumers and NCR Digital Banking for Business
ALM Announces the Launch of the Law.com Radar App for IOS and Android
TRA Completes Acquisition of Rosenfeld/Tortu Retirement Planning Co., Inc.
The Retirement Advantage, Inc. Celebrates 25th Anniversary
TRA Starts 2021 with Acquisition of R. Bruce Tanner & Associates, Inc.
SCOR to Provide Life Insurance Products for People with Chronic Conditions through New Partnership with Bayer and One Drop

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  Mokuyobi

Visit  JobsWare.com





 
  ©2021 NewswireToday — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR 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 prtoday.com newswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are proudly NOT affiliated with USA TODAY (usatoday.com)