Fairfield’s General Electric, which has indicated it is searching for a new headquarters out of Connecticut because of proposed tax increases, said this week that it has now completed the sale of $9.5 billion worth of loan and realty assets that were contained in its Norwalk-based GE Capital unit.
The conglomerate intends to sell off $100 billion worth of assets by year’s end.
GE announced in April that it intended to sell $22.5 billion worth of debt and equity assets to Blackstone and Wells Fargo. It followed up in May with a $500 million deal of Japanese assets to Shinsei Bank. The company said it has also lined up buyers for another $3.5 billion worth of debt and equity assets in Europe, Japan and the U.S, most of which are expected to close by the third quarter of this year.
Earlier this month, when word spread that the legislature had OK’d a series of corporate tax increases, GE said it would conduct a search for a different headquarters location.
Several states have pitched the company on the merits of locating within their respective borders.
