GE To Shed Another Credit Unit Amid Industrial Focus
General Electric (GE) plans to spin off its consumer credit unit in Switzerland as it continues to shed its financing assets to focus on its core industrial businesses. The conglomerate's GE Money Bank unit will list all 30 million of its shares on the SIX Swiss exchange and change its name to Cembra Money Bank. Parent GE Capital will keep a minority stake in the unit. Shares fell 1.9% to 23.86 in the stock market today. "The IPO of GE Money Bank
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