Wells Fargo, GE Capital Complete Acquisition

Wells Fargo & Company has announced completion of the purchase of the North American portions of GE Capital’s Commercial Distribution Finance and Vendor Finance businesses, as well as a portion of its Corporate Finance business.

The sale involves $27.4 billion in assets, including about $24 billion of loans. The remaining international segment of the transaction should close later this year.

GE Capital’s Commercial Distribution Finance business provides customized inventory financing to fund the flow of finished durable goods from manufacturers to dealers.

Its Vendor Finance business provides vendor and dealer financing programs for manufacturers and dealers, and their customers, across the U.S. and Canada.

The Corporate Finance business provides senior secured asset-based loans, as well as equipment leases and loans to middle-market customers.  S