GE Capital May Buy NIB Capital

There have reports in the financial press this week that acquisition-hungry GE Capital may soon offer to buy NIB Capital, which has a strong presence in the marine financing business. NIB Capital has engaged Goldman Sachs to run the sale of the company either through an IPO or to a strategic buyer, and GE Capital, which in recent years has used major portfolio acquisitions as a method of achieving meaningful growth, has emerged as a likely buyer. The transaction comes at a time of great success at NIB, which had $228 million in net income in 2004, up from just $96.8 million in 2003. As demonstrated by its purchase of the structured finance unit of ABB for $2.3 billion, GE has clearly sets its sites on the $3 trillion European financing market as an opportunity for growth.

This is only an excerpt of GE Capital May Buy NIB Capital

Content is restricted to subscribers. To continue reading please Log-In or view our subscription options.

Existing Users Login
Username
Password

Related Archive Files

• No Related Post