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.

Originally posted on Fleet Financials