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Shinsei Bank has bought GE Money's consumer finance operations in Japan. General Electric Co. announced the closing of the US$5.4 billion deal Monday. The sale does not mean GE Money is quitting the Japanese finance market. It still operates a credit card joint venture there, GE Nissen Credit Co., with the catalog retailer Nissen Co. Ltd., among other operations. "The sale enables GE to reallocate capital to areas in which GE plans to invest and grow," a GE Money spokesperson tells CardLine Global. GE Money declined to disclose the number of credit cards it has issued in Japan.
