GE Capital plans defenestration

GE Capital's remaining commercial finance businesses in Australia will be pared back or sold, as the conglomerate General Electric reorganises around its portfolio of industrial businesses.

The consumer finance arm of GE in Australia is already being sold, with a consortium led by KKR the buyer.

GE Capital will sell its other finance assets over the next two years.

But GE will "keep the financing 'verticals' that are specifically tied to its industrial units," the company said on Friday. These include GE Capital Aviation Services, Energy Financial Services and Healthcare Equipment Finance.

This suggests aspects of GE Capital in Australia may continue, given the significance of financing both renewable energy and carbon-based fuels to the economy and the company.