Date:12/07/2008 URL: http://www.thehindu.com/2008/07/12/stories/2008071255681500.htm

Business

Shinsei to buy GE Japan finance arm for $5.4 b

TOKYO: Japan’s Shinsei Bank said on Friday that it will buy General Electric’s Japanese consumer finance operation, which includes a moneylender, Lake, as well as a credit card and housing loan operation for 580 billion yen ($5.4 billion) as the sprawling U.S. firm looks to shed assets globally.