Announced
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Financials
Synopsis
TIAA Bank, an American diversified financial services company providing banking, mortgages, and investing services, acquired the healthcare equipment finance unit of General Electric for $1.5bn. This significantly expands TIAA Bank’s commercial banking business and enhances its ability to provide a full range of financial solutions to institutional clients and serve an even greater number of healthcare providers. The sale comes as GE Capital seeks to become smaller and more focused.
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