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Wells Fargo Buys GE Unit Receivables

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Wells Fargo & Co. said late Monday that it bought $730 million of loan and lease receivables from General Electric Co.‘s GE Healthcare Financial Services-Equipment Finance.

The purchase, which closed Dec. 31, did not involve any employees or facilities, the $1.4 trillion-asset Wells said.


Its Matsco division in Des Moines will manage the acquired receivables, which are tied to the financing of dentistry, veterinary medicine, optometry, and ophthalmology, Wells said.

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