General Electric announced on Friday it would sell most of its real estate and financial service assets of GE Capital for $23 billion to Blackstone and Wells Fargo & Co. The sale will move GE away from financial services and back towards its industrial core. Friday’s deals include real estate and loans in the United States, Europe, Mexico and Australia. Connecticut-based GE has several other arms outside of its capital arm including its consumer appliance sector, medical devices, energy devices and aviation, among others. The part of GE Capital that will remain will account for $90 billion in ending net investments, with $40 billion of that in the United States.
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