GE Capital said Thursday that it has completed its acquisition of the factoring business of Royal Bank of Scotland Group Plc. Financial terms were not announced. RBS, a UK bank, is disposing of non-core assets.
GE Capital has completed the acquisition of RBS Factoring GmbH from The Royal Bank of Scotland plc (RBS), following the approval of the relevant authorities.
An agreement with RBS to acquire 100% of RBS Factoring GmbH was signed on the 29th of March 2010. The announcement and further information can be found here:
GE Capital is a leading provider of specialist finance throughout the EMEA region, providing a wide range of solutions including: accounts receivable management, inventory finance, ABL, cross-border financing, leveraged finance, European leasing/vendor finance and fleet management. GE Capital focuses on sectors where it can share GE’s 130+ year heritage with customers – energy, healthcare, media, transportation and industrial – and has a major footprint in EMEA, including an exciting $8 billion commercial finance joint venture with Mubadala in Abu Dhabi.