GE Consumer Finance announces acquisition.(Mostly Business)

GE Consumer Finance-Americas announced June 25 it has finalized the acquisition of Conseco Finance Corp.'s U.S. sales finance, consumer finance and private label credit card businesses. GE Retail Sales Finance, a GE Consumer Finance company, will manage the portfolio.

The acquisition adds $2.4 billion of receivables and about 1.7 million new consumers to the GE Retail Sales Finance business in Kettering, Ohio. As part of the acquisition, approximately 900 employees joined GE from St. Paul, Minn.; Tempe, Ariz.; and Rapid City, S.D.

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