GE Spinning off Retail Financing Unit

Fairfield, CT, Nov. 18, 2013 -- General Electric Co. plans to spin off the retail finance business of GE Capital through an initial public offering.

The unit provides store credit card programs and consumer financing through many retailers and is prominent in the floorcovering industry.

GE said it plans to file with the Securities and Exchange Commission in the first quarter of 2014.

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