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Deals Rumor Mill: GE, House Of Fraser, NY Islanders

By Karlee Weinmann (March 31, 2014, 4:06 PM EDT) -- General Electric Co. is considering shedding its GE Money Bank business, based in the Nordic region, in a sale that could bring in as much as $2.75 billion, sources told Reuters on Monday. The move would fall in line with broader GE plans to cut its ties to the volatile finance sector. The GE Money Bank unit has served the Nordic market since 1993. Potential buyers include both private equity and strategic players. The subsidiary, which provides loans and insurance, falls under the umbrella of GE Capital, which has tapped Bank of America Merrill Lynch to consider its strategic options....

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