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GE Capital

Element to Acquire GE Capital's Fleet Business

Toronto-based Element Financial Corp. has entered an agreement with General Electric to acquire GE Capital's fleet business in the U.S., Mexico, Australia and New Zealand for $6.9 billion.

GE to Sell Fleet Management Unit by 2018

General Electric will sell off its fleet management and automotive financing business units by 2018 under a strategic plan to focus on its core businesses and shed most of its finance and banking businesses, the company has announced.

Medium-Duty Fleets Face Rising Cost Challenges

A recent study by GE Capital has found that, while medium-duty truck fleets have enjoyed strong performance over the past year, they still face a number of challenges including maintaining margins in the face of increased healthcare costs and the rising cost of maintaining fleet assets.

Penske and GE Capital Extend PTL Partnership to 2023

READING, PA – Penske Truck Leasing Co., L.P. announced that it has completed a series of transactions that include $700 million of new equity investments from its existing partners, Penske Corporation, Penske Automotive Group and General Electric Capital Corporation, and a new $1.0 billion five-year unsecured senior credit facility with a group of 17 financial institutions.