GE, bombardier plan $2.4 billion deal.(GE Commercial Finance to purchase Bombardier Capital Inc.'s inventory finance division)

Powersports Business, May, 2005

General Electric Co.'s commercial finance unit, GE Commercial Finance, plans to pay $2.4 billion in cash and assumed debt to purchase Bombardier Capital's inventory finance division (BCIFD).

The financing arm of Montreal-based Bombardier, Inc., BCIFD employees about 280 people at its headquarters in Colchester, Vermont. The company provides floor plan financing for powersports, boats, trailers and manufactured housing to more than 4,500 retailers in the United States and Canada.

[GRAPHIC OMITTED]

GE Commercial Finance, Stamford, Conn., will pay $1.4 billion cash. Another ...