Actionable Opportunities in Special Situations: Spinoffs, Bankruptcy, Restructurings


General Electric $GE sells online deposit platform to Goldman Sachs $GS

“General Electric (NYSE:GE) disposes of more of its bank-like assets, agreeing to sell GE Capital’s U.S. online deposit platform along with all deposits ($16B) of GE Capital Bank to Goldman Sachs Bank (NYSE:GS).

Coupled with the upcoming spinoff of Synchrony Financial, this deal will nearly mark a complete exit from U.S. banking operations, says GE Capital CEO Keith Sherin, and eliminates the exposure to U.S. deposit insurance.” Source


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