GE Capital Sales Finance and Ashley HomeStores Announce Consumer Financing Agreement

GE Capital Sales Finance, a consumer lending unit of General Electric Company GE, today announced an agreement with Ashley HomeStores, Ltd., to provide consumer financing through more than 420 Ashley Furniture HomeStores® nationwide. As part of the multi-year agreement, GE Capital's Sales Finance unit will also acquire the existing $500 million Ashley Furniture HomeStores consumer credit portfolio. GE expects the transaction, which received customary regulatory approval, to be accretive immediately. Financial terms were not disclosed.