GE Capital has completed the acquisition of RBS Factoring from The Royal Bank of Scotland (RBS), following the approval of the relevant authorities.
In March 2010, GE Capital signed an agreement with RBS to acquire 100% of Factoring for an undisclosed sum.
RBS Factoring is RBS’ factoring and invoice financing business in Germany. It provides accounts receivable finance in Germany by financing volume.
RBS Factoring processed more than one million invoices a year and is expected to add over EUR2bn of volume to GE Capital’s German factoring platform. The business had assets of EUR169m as of December 2009.
GE Capital is a provider of specialist finance throughout the EMEA region, providing a wide range of solutions including: accounts receivable management, inventory finance, ABL, cross-border financing, leveraged finance, European leasing/vendor finance and fleet management.