DANBURY, Conn.--(BUSINESS WIRE)--Oct. 21, 2002--GE Commercial Equipment Financing (CEF) has agreed to acquire a portfolio of $448 million of corporate and general aviation financing contracts from debis(a) Financial Services, Inc., a wholly-owned subsidiary of Daimler Chrysler Services AG.
The assets will be integrated into CEF's existing Corporate Aviation Group, an industry leader in the leasing and loan financing of corporate aircraft and helicopters worldwide. Transaction terms were not disclosed. The agreement is subject to customary regulatory review and approval and expected to close over the next 12 months.
About GE Commercial Equipment Financing:
GE Commercial Equipment Financing (CEF), a unit of GE, provides innovative financing solutions to help small- and mid-size businesses and Fortune 100 companies worldwide grow and operate more efficiently. CEF's portfolio includes more than 90 different collateral types, including trucks and trailers, corporate aircraft, manufacturing facilities, commercial real estate and construction, medical and office equipment. GE is a diversified services, technology and manufacturing company with operations worldwide.
(a) small "d" on debis
--30--sdg/ny*
CONTACT:
GE Commercial Equipment Financing
Marcy McDougall, 203/796-1055
cell: 203/984-1912
or
Daimler Chrysler AG
Han Tjan, 212/909-9063
Jeff Wilson
GE Capital Corporate Finance
[email protected]
1-203-749-6340