KKR, Varde and Deutsche Bank buy GE Capital unit


SYDNEY: A consortium of private equity firm KKR & Co LP, alternative investment manager Varde Partners and Deutsche Bank has agreed to buy GE Capital’s Australian and New Zealand consumer lending arm for A$8.2bil (US$6.26bil).

The trio said in a statement yesterday that they were attracted to a business with more than 3 million customers and a long-standing relationship with many of the major retailers in bothAustralia and New Zealand.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Business , GE Capital , KKR , Varde , Deutsche Bank

   

Next In Business News

Asian stocks hit by US tech slide, FX subdued
CelcomDigi emphasises its significant role in protecting customers from AI-related risks
China's largest auto show showcases all-electric future, local brands dominate
Unilever beats first quarter sales forecasts, sticks to 2024 outlook
Oil steady as market weighs US demand concerns, Middle East conflict risks
HeiTech Padu targets stronger earnings growth after returning to black in 2023
PBOC may up bond trading
Rafizi: Govt to share details on subsidy rationalisation mechanism
Deutsche Bank Q1 profit jumps 10% as investment bank outperforms
Stocks hit by tech slide; yen flails at intervention zone

Others Also Read