Scavengers and scratchers of value
Asia’s collapse has generated surprisingly few deals so far. GE Capital, the financial services division of General Electric, is doing its best to change that. From the start of the Great Asian Fire Sale, no firm has been a more aggressive buyer than GE Capital, the world’s largest non-bank commercial lender.
Since February, it has taken a 100% stake in a Thai auto-financing business; entered into a joint venture with Thailand’s Central Group of Companies that will issue private-label credit cards; formed a joint- venture life-insurance company with Japan’s Toho Mutual Life; and purchased Philippine Asia Life Assurance Corporation.
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