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Wells Fargo has hired two executives to expand its lending for manufactured housing, following the San Francisco company's purchase of a multibillion-dollar loan portfolio from GE Capital.
June 23 -
Wells Fargo in San Francisco and a unit of Blackstone Group have agreed to buy commercial real estate loans held by GE Capital in transactions valued at $23 billion.
April 10 -
The unit, which lends to private equity-backed companies and includes GE Antares, has long been a major force in the middle market.
April 29
Capital One Financial is in exclusive talks with General Electric to buy the company's health-care finance unit, people familiar with the matter said.
Negotiations are still under way and a deal could fall through, according to one of the people, who asked not to be identified because the talks are private. Both Capital One and Apollo Global Management were poised to make final bids for the business at the end of last month, people with knowledge of the matter said then.
The unit, a provider of mortgages and loans to nursing homes and other health-care companies, is among the GE operations on the block as Chief Executive Officer Jeffrey Immelt shrinks the GE Capital finance arm. GE is divesting about $200 billion of GE Capital assets to focus on manufacturing.
Final bids for the health lender were due in July, people familiar with the process have said, as Fairfield, Connecticut- based GE works to complete a sale that could fetch more than $11 billion.
"As a matter of practice, we do not comment on market rumors or speculation," Tatiana Stead, a spokeswoman for McLean, Virginia-based Capital One, said in an e-mailed statement. "As disclosed in our SEC filings, the company has every intention to fully deliver on our approved capital distribution plan."
A representative for GE Capital declined to comment. Reuters reported on Capital One's exclusive status earlier Thursday.
