Date:25/12/2008 URL: http://www.thehindu.com/2008/12/25/stories/2008122556111600.htm

Business

GE to sell Australian mortgage business

SYDNEY: Australian non-bank lender Aussie Home Loans will buy GE-owned rival Wizard in a deal that includes the Commonwealth Bank of Australia acquiring Australian $4 billion ($2.7 billion) of Wizard mortgages. The price of the deal, announced Wednesday by all three companies, was not disclosed.