GE To Sell Majority Of Global Fleet Business To Element For $6.9 Bln

General Electric Co. Monday said it agreed to sell its fleet businesses in U.S., Mexico, Australia and New Zealand to Canada’s Element Financial Corp., a fleet management and equipment finance company, for $6.9 billion or about C$8.6 billion. Separately, GE has also signed a memorandum of understanding for the potential sale of its European fleet businesses to Arval, a subsidiary of BNP Paribas.