Feb. 26, 2014, 4:57 AM
- GE (GE) has agreed to pay $1.7B to Japan's Shinsei Bank (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)
SKLKF vs. ETF Alternatives
Shinsei Bank and its subsidiaries are engaged in general banking including institutional banking, consumer and commercial finance, and retail banking with total assets of Y9,405,013 million as of Mar 31 2006. Co.'s principal services includes deposits, loans, securities investment,... More
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