Three Firms on GE's $4.8B Japanese Leasing Sale
Baker & McKenzie is representing acquirer Sumitomo Mitsui Financial as Sullivan & Cromwell and Nagashima Ohno & Tsunematsu advise the seller.
December 22, 2015 at 12:35 AM
1 minute read
Baker & McKenzie, Sullivan & Cromwell and Nagashima Ohno & Tsunematsu are having the lead roles on a $4.8 billion deal that will see Japan's Sumitomo Mitsui Financial Group Inc. acquire General Electronic Co.'s leasing business in the country.
Through a subsidiary, Sumitomo Mitsui Financial and Leasing Co. Ltd., the Tokyo-based holding company of Japan's second largest lenders Sumitomo Mitsui Banking Corp., is acquiring 100 percent of GE's automotive, equipment and asset leasing business in Japan.
In a press release, Sumitomo Mitsui said the deal will help the company gain GE's 483,000 leasing clients in Japan and maximize market share in the country's $42 billion leasing industry.
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