GE has sold a 7.6% stake in Thailand's Bank of Ayudhya to unnamed institutional buyers, and says...

|By:, SA News Editor
GE has sold a 7.6% stake in Thailand's Bank of Ayudhya to unnamed institutional buyers, and says it's reviewing options for its remaining 25% stake. GE, which is looking to sell non-core GE Capital assets, reportedly raised $462M through the sale, which came at a price 5.4% lower than Ayudhya's Tuesday close in Bangkok. Ayudhya shares fell 7.5% on the news. (previous)