Latham Reps GE In $1.9B Grupo Aval Banking Deal

Law360, New York (July 16, 2010, 5:16 PM EDT) -- General Electric Co. has announced plans to sell its Central American banking operation to Grupo Aval, Colombia's largest banking holding group, for $1.9 billion as it seeks to shed assets in its capital division.

GE Capital Global Banking, part of GE's global finance unit, said Thursday that it had reached a definitive agreement to sell BAC Credomatic GECF Inc. to Grupo Aval and expects the deal to close by the end of this year.

“This is a good deal for GE, and furthers our objective of...
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