General Electric Company Inches Closer to $20 Billion Asset-Sale Target

General Electric Co.’s deals to sell the bulk of its vehicle fleet-management business push the company near a goal of unloading at least $20 billion of finance assets before the quarter ends.

Canada’s Element Financial Corp. will acquire GE Capital’s fleet assets in the U.S., Mexico, Australia and New Zealand for $6.9 billion. GE also said Monday that it signed a provisional accord with Arval, a subsidiary of BNP Paribas, to sell the European portions of the leasing operations.

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