Monday, June 29, 2015

Element Financial Corporation - EFN.t

Element Financial Corporation - EFN.t is one of North America’s leading equipment finance companies.

Element operates across North America in four verticals of the equipment finance market – Commercial & Vendor Finance, Aviation Finance, Rail Finance and Fleet Management.



On June 29, 2015 the company released NEWS

Element to Acquire GE Capital’s Fleet Operations in the United States & Mexico and Australia & New Zealand for C$8.6 billion

Sale of GE Capital’s European fleet operations to Arval strengthens the Element-Arval Global Alliance

 Expected ~20% accretion to annual EPS based on fully annualized synergies in the range of US$ 90 million to US$ 95 million
 Related Arval transaction expands and strengthens the Element-Arval Global Alliance in Europe
 Senior credit line increased from US$2.0 billion to US$8.5 billion and extended for a three-year term
 Element’s total assets to increase to C$21 billion

Toronto, Canada – June 29, 2015 – Element Financial Corporation (TSX: EFN) (“Element” or the “Company”), one of North America’s leading fleet management and equipment finance companies, announced today that it has entered into a definitive agreement with GE (NYSE:GE) to acquire GE Capital’s remaining North American fleet management operations in the US and Mexico, as well as GE Capital’s fleet management operations in Australia and New Zealand (the “Transaction) for an all-cash purchase price of C$8.6 billion. Element had previously acquired the Canadian operations of GE Capital’s North American fleet management business in June of 2013."
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http://pennystockjournal.blogspot.com/2014/11/potash-corp-of-sask-inc-pott.html


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