Norwalk-based GE Capital announced on Tuesday its intended acquisition of a $7.5 billion U.S. deposit business from insurer Metlife Inc.
The acquisition by GE Capital — the financial arm of Fairfield conglomerate General Electric — fits into its previously announced plans to launch a U.S. deposit platform, said Dan Henson, president and chief executive of GE Capital, in announcing the purchase.
The deal gives GE Capital an online banking platform. Financial terms were not disclosed.
The acquisition is expected to close in mid-2012, pending regulatory approvals.
