will sell its Transportation Financial Services Group – which provides financing,
leasing and other services to the commercial trucking industry – to GE
Commercial Finance, the company announced this week.
of the finance business, which is based in Dallas and Toronto, is valued at
$4.4 billion, and is expected to be complete by the end of the year.
According to GE, the unit finances roughly 196,000 heavy-
and medium-duty commercial trucks and trailers, including a number of
owner-operators. The truck finance business has about 600 employees and more
than 49,000 customers.