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GE Commercial Finance Acquires Custom Fleet in Australia

May 16, 2006

CARLISLE, AUSTRALIA – National Australia Bank has sold its global fleet management and leasing operation, Custom Fleet, for $550 million to General Electric’s financial services unit, GE Commercial Finance, according to the Herald Sun. GE Commercial Finance has more than $300 billion in assets spread across 35 nations — making it one of the finance giant’s major divisions. The sale is part of NAB’s program to sell off its global assets. The deal is still subject to regulatory approvals.
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