General Electric

General Electric (GE) e about to become a fully industrial company going out of business financial services through the sale of part of the assets in the formulation of GE Capital and redemption of shares for 50 bln. Dollars, says CNBC.

GE said its intention to create a “simpler, more tsenna company” through effective otstranyavane of financial assets that are equal to those of the seventh largest bank in the US.

The company will do this by selling shares of other financial institutions, as well as portfolios of assets, including real estates for 26 billion. Dollars. GE will sell most of the assets of GE Capital Real Estate fund managed by Blackstone and Wells Fargo.

Nevertheless, to date, GE will retain financial transactions that help customers to finance their purchases of equipment conglomerate.

While the company believes shedding GE Capital for a number of years, Chairman and CEO Jeff Immelt, in an interview with CNBC, said now is the perfect time.

“We do have a perfect market for the sale of assets, financial services. We have slow growth, low interest rates, liquidity and many people seeking profitability,” said Chairman and CEO Jeff Immelt. “We think it’s good for investors … Now is the time to do it.”

GE expects to return more than 90 bln. Dollars of investors in 2018. Most of the amount will come in the form of a program to buy back shares worth 50 bln. Dollars will shrink the proportion of shares in circulation to about 8 billion. to 2018.

Shares of the company closed session on Wall Street on Thursday at a price of dollars