Canada's Element Financial close to GE fleet asset purchase: sources

TORONTO/NEW YORK (Reuters) - Canada's Element Financial (EFN.TO) is close to buying a large chunk of General Electric Co's (GE.N) vehicle fleet-management business in a deal that could be sealed as early as the end of June, three sources familiar with the matter said on Friday. The sale would be part of a plan it unveiled in April to divest about $200 billion in GE Capital assets as it moves away from finance and focuses on manufacturing of industrial equipment. The sources said Element is poised to acquire a good piece of the vehicle fleet-management business, with a smaller portion being taken by another party.

Canada's Element Financial close to GE fleet asset purchase: sources source: http://finance.yahoo.com/news/canadas-element-financial-close-ge-221233001.html