North Bergen, New Jersey 2/26/2010 4:16:54 AM
News / Business

General Electric explores possible sale of $3.1 billion stake in Turkish bank.

Wall Street Grand LLC reviews GE’s $3.1 billion sale in Garanti Bank.

General Electric Co. (NYSE:GE) is thinking about a possible sale of its $3.1 billion stake. General Electric Company (GE) operates as a technology, media, and financial services company worldwide …General Electric Co. (NYSE:GE) trades on the “New York Stock Exchange” under the Stock Symbol”GE”. For the Latest information regarding “GE”, make sure to visit the Most Exclusive and In Depth newsletter website at:   http://www.wallstreetgrand.com/.

 

Join today and be part of the best free investment newsletter on the web where we focus on market moving news.

 

General Electric Co. (NYSE:GE) is thinking about a possible sale of its $3.1 billion stake in Turkey's Garanti Bank. General Electric paid $1.55 billion for a quarter of the bank in 2005, one of Turkey's largest privately owned banks. The industrial and financial conglomerate now owns about 21 percent of Garanti Bank.

GE says the move is part of its efforts to shrink the size of its GE Capital financial division, which includes some bank holdings. GE Capital's profits have been hit hard by the financial crisis and recession.

 

 

 

You can contact us during market hours at 1-888-9-ClubGrand (1888-925-8247) or via email at staff@wallstreetgrand.com .Gerard@WallStreetGrand.com

 

Safe Harbor

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act") including 2009 growth, revenue for the second quarter and year of 2009 and gross margin for the second quarter and year of 2009. Additionally, words such as "seek," "intend," "believe," "plan," "estimate," "expect," "anticipate" and other similar expressions are forward-looking statements within the meaning of the Act. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include the impact of intense competition, the continuation or worsening of current economic conditions and the condition of the domestic and global credit and capital markets.