Reginal Thomas
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GE Sells Loan Portfolio to Kensington Mortgage for $3.7 Billion

General Electric Co announced on Wednesday it sold a portfolio of loan from its British home lending unit to Kensington Mortgage Co Ltd for $3.7 billion. GE is looking to downsize its financing unit, GE Capital.

This is GE’s third loan portfolio sale this year, and brings the company’s UK home lending unit down to less than $7 billion, according to Keith Sherin, GE Capital’s Chief Executive.