Citigroup to sell unit to General Electric for $4.4 billion. (23-NOV-04) The Dallas Morning News (Dallas, Texas) (via Knight-Ridder/Tribune Business News)

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Citigroup to sell unit to General Electric for $4.4 billion.

Publication: The Dallas Morning News (Dallas, Texas) (via Knight-Ridder/Tribune Business News)

Publication Date: 23-NOV-04

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Byline: Ieva M. Augstums

Nov. 23--Citigroup Inc. is selling off a chunk of its operations in North Texas.

The New York-based bank agreed Monday to sell its Irving- and Toronto-based transportation finance business to General Electric Co. for $4.4 billion in cash.

Under the deal, GE Commercial Finance will acquire CitiCapital's Transportation Financial Services Group,...

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