On Friday, Shares of General Electric Company (NYSE:GE), gained 1.09% to $24.95.
BMO Financial Group and partner of BMO Harris Bank declared a contract with General Electric Capital Corp. to acquire the GE Capital Transportation Finance business in the U.S. and Canada, according to American City Business Journals.
The deal will add about $8.7 billion in assets to the books at BMO Financial. The assets primarily are loans and leases for dealerships, private fleets, heavy duty tractors and trailers, medium trucks, garbage trucks and containers, in addition to financing for original equipment manufacturers.
Terms of the deal were not revealed, however GE told analysts it would put about $700 million into its dividends fund after the sale. American City Business Journals reports
The acquisition now makes BMO Financial the largest financier for the commercial truck and trailer business in North America. American City Business Journals added.
General Electric Company (GE) operates as an infrastructure and financial services company worldwide. The company’s Power and Water segment offers gas, steam and aeroderivative turbines, nuclear reactors, generators, combined cycle systems, controls, and related services; wind turbines; and water treatment services and equipment.
Shares of The Walt Disney Company (NYSE:DIS), inclined 1.83% to $104.48, during its last trading session.
Chinese Internet giant Tencent Holdings Ltd said Monday it signed a deal with Walt Disney Co. to become the exclusive online distributor in China of six Star Wars films, from “Episode I: The Phantom Menace” to “Episode VI: Return of the Jedi.” Financial terms of the deal weren’t revealed, according to WSJ.
The deal marks Tencent’s latest attempt to boost online entertainment offerings such as movies and music. Tencent’s main businesses are online games and social networks like its WeChat smartphone messaging application, but the company also runs an online video platform called Tencent Video and a music streaming service called QQ Music.
In November, Tencent signed a deal with Time Warner Inc. HBO and became the U.S. network’s exclusive online distributor in China. WSJ Reports
For global entertainment companies, partnerships with Chinese Internet firms are a way to create official online distribution channels in a potentially huge but challenging market that has long been plagued with piracy. According to Tencent, this is the first time Star Wars movies are distributed online legally in China. WSJ added.
The Walt Disney Company, together with its auxiliaries, operates as an entertainment company worldwide. The company operates in five segments: Media Networks, Parks and Resorts, Studio Entertainment, Consumer Products, and Interactive.
Finally, Shares of Huntington Bancshares Incorporated (NASDAQ:HBAN), ended its last trade with -0.09% loss, and closed at $10.81.
BMO Capital initiated coverage of Huntington Bancshares with a market perform rating and price target of $12 Wednesday’s morning.
The bank has $69 billion in assets and $49 billion in deposits. BMO estimates earnings of 86 cents per share for 2015 and 90 cents for 2016.
We have a positive bias toward the story as we believe revenue growth will be driven by a favorable outlook for auto sales and various levers for fee income growth; but, we simply see better investment opportunities within the regional space recently, BMO said in a note.
Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services.
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