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GE Capital sale almost done

GE Capital may be on the verge of finally outlining the sale of its Australian commercial finance arm.The Financial Review reported that GE "has sold" the business to Sankaty Advisors, an affiliate of Bain Capital. The AFR put the price at A$1.9 billion including debt.A GE media adviser said the newspaper had "jumped the gun" but an announcement from the company might be made soon.Varde Partners, Deutsche Bank and KKR are to buy GE's consumer finance business in Australia and New Zealand, a deal announced in March but yet to close.The trio of buyers said last week the consumer finance business would trade as Latitude Financial Services.

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