GE Pays $1.1 billion for Control of Sanyo Credit

http://www.insidearm.com/news/00013639-ge-pays-11-billion-for-control-of-sanyo-c/

General Electric Co. – the world’s second largest company in terms of market share — paid 126.3 billion yen ($1.1 billion) for 97 percent of Japanese leasing company Sanyo Electric Credit Co.

That works out to about 3,250 yen a share to buy control of Sanyo Credit to increase office-equipment leasing and lending to small companies in Japan.

GE is focused on Japanese lending after the government tightened consumer credit rules and limited the interest that can be charged.