- GE (NYSE:GE) has agreed to pay $1.7B to Japan's Shinsei Bank (OTCPK:SKLKF) to end the conglomerate's exposure to compensation for interest refund claims.
- The deal will hit GE's Q4 and 2013 earnings by $1B, and net EPS by $0.09.
- GE's liability goes back to a loss-sharing agreement from 2008, when GE Capital sold its Japanese consumer operations to Shinsei for $5.4B. (PR)
GE to pay $1.7B to Japan's Shinsei bank to end refund liability
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Symbol | Last Price | % Chg |
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GE | - | - |
General Electric Company |