GE Capital Files For IPO Of Retail Finance Arm In Planned Exit

General Electric Company (NYSE:GE) in its filing Thursday with the SEC said that after completion of the IPO, the unit will operate under “Synchrony Financial”.

The company plans to list on the New York Stock Exchange under the ticker symbol SYF.

Spin-off to cut credit risks

As reported earlier, General Electric Company (NYSE:GE) in its concerted effort to reduce credit risks was planning to shrink its finance business by 2015 through the divestiture of its North American consumer lending unit. The strategic move is arguably considered to be the biggest step in restructuring GE Capital’s portfolio...