GE Considering
Selling Stake In
BAC
General Electric
(GE) announced
on Tuesday that
it would be
selling its 75%
stake in
BAC-Credomatic,
which owns among
other financial
institutions in
the region, BAC
San José.
The news of the
sale was made by
Ernesto
Castegnaro,
president of
BAC-Credomatic
Network.
"For some time
GE has expressed
its interest in
selling", said
Castegnaro as
the US
conglomerate's
plans to foce
more in
industrial,
technology and
energy sectors.
Russel
Wilkerson,
spokesperson for
GE Capital in
the US,
confirmed the
interest in
selling to
Bloomberg. "We
continue to
evaluate all of
our businesses
for long- term
strategic fit,
which includes
BAC", said
Wilkerson.
GE feels that
its stake in BAC
is worth us$1.5
billion dollars.
According to a
Bloomberg
report, the GE
sale is only
under
consideration
and that several
possible buyers
have emerged,
but no details
on who the
buyers might be
were being made.
BAC-Credomatic
is report to
have assets of
us$8 billion
dollars with
operations in
Nicaragua,
Panama and Costa
Rica.
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