GE Said to Be in Talks With Element on Sale of Fleet Assets
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General Electric Co., working to reduce dependence on its finance unit, is in advanced talks to sell assets in the $9 billion vehicle fleet-management business to Element Financial Corp., people familiar with the matter said.
No deal has been reached yet with Toronto-based Element, and the discussions may still fall apart, said the people, who asked not to be identified because the matter is not public. GE hopes to come to terms on a sale of the operations by the end of the quarter, one person said.