Wells Fargo Completes Acquisition of GE Capital’s Commercial Distribution Finance Business
- Wells Fargo completed its purchase of the Australian and New Zealand segments of GE Capital’s CDF business
- Follows up the completion of its purchase of the U.S. segments back in March
Wells Fargo announced today it has completed the purchase of the Australian and New Zealand segments of GE Capital’s Commercial Distribution Finance (CDF) business. The acquisition includes CDF assets, and 123 team members across 5 sites in Australia, along with CDF assets and 7 team members across 2 sites in New Zealand.
“CDF has a long history of serving customers in Australia and New Zealand and those countries remain strategic markets in Wells Fargo’s international business model,” said Simon Beckett, CDF business leader for Australia and New Zealand. “We’re excited to be part of the Wells Fargo brand, and continue to provide our customers with excellent service and support.”