GE to sell Europe PE unit to Japan’s SMBC for $2.2 bln

GE Capital will retain its $1 billion investment in the European Senior Secured Loan Program and European Loan Program, both joint ventures between affiliates of GE Capital and affiliates of Ares Capital, GE said on Tuesday.

The deal is part of the U.S. conglomerates plan to shed its financial assets and concentrate on its industrial businesses.

(Reporting by Sagarika Jaisinghani in Bengaluru)