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Several possible buyers are lining up for $8 billion BAC-Credomatic

Thursday, June 10, 2010


Several possible buyers of Panama’s BAC-Credomatic GECF have emerged since General Electric’s finance unit launched discussions to sell it since January.

The bank has assets of more $8 billion in Panama and Nicaragua.

Unloading the stake would support GE Capital’s goal of shedding smaller businesses. GE Capital chief executive Michael Neal said June 4 that possible sales by GE include its 21 percent holding in Turkiye Garanti Bankasi, Turkey’s biggest listed bank, and “other things like that.”

Original source:

Bloomberg