GE Announces Another Asset Sale, Company To Sell Majority Stake In Bank BPH's Core Bank To Alior Banki

General Electric Company GE announced on Friday its GE Capital segment has entered into an agreement to sell its majority stake in Bank BPH's Core Bank to Alior Bank.

The transaction is expected to release approximately $0.2 billion of capital to General Electric.

Related Link: GE Announces Sale Of Assets To Western Alliance, State Street

The asset sale is consistent with General Electric's ongoing strategy to sell most of GE Capital's assets. The company announced earlier in the week it has agreed to sell its U.S. hotel franchise loan portfolio and its Canadian Franchise Finance business, in addition to its asset management business.

"As we continue to execute on our strategy to sell most of GE Capital's assets, we are now primarily focused on European transactions," said GE Capital Chairman and CEO Keith Sherin. "We are pleased to sell the Bank BPH's Core Bank to Alior Bank, a well-respected bank in Europe which is committed to Bank BPH's employees and to growing the Core Bank business. We expect to continue to find strong buyers in the coming months for our other European commercial and consumer banking businesses," he added.

Shares of General Electric were trading lower by around 0.57 percent early Friday morning.