GE announced today that it has signed an agreement to sell its 23.3% stake in Hyundai Capital Services to Hyundai Motor Co. and Kia Motors. The announcement comes less than a month after it unloaded its transportation business unit to BMO Financial Group.
The acquisition comes more than two months after BMO Harris Bank informed dealers it was exiting 12 states to refocus its indirect auto business.
The Chicago-based bank notified dealers in approximately 12 states that it’s refocusing its indirect auto business to its core market states, including Illinois, Wisconsin, Indiana, Minnesota, Kansas, Missouri, Arizona and Florida.
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