Deals
Värde, KKR, Deutsche Buy GE Australia Finance Unit
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General Electric Co. is selling its Australia and New Zealand financial services unit to an investor group that includes Värde Partners and KKR & Co., furthering its push to focus on industrial businesses and pare risks.
Värde Partners, KKR and Deutsche Bank AG said Sunday they agreed to buy the unit at an enterprise value of A$8.2 billion ($6.3 billion) in what they called one of the region’s largest private-equity deals.The unit, which provides GE-branded credit cards and personal loans, has about A$7 billion of gross assets, people with knowledge of the matter said in December.