GE Capital Acquires Autobytel Japan Stake
GE Capital, the world’s largest nonbank financial institution, has bought a stake in Autobytel Japan, a local unit of Internet-based vehicle trading system operator Autobytel.com Inc. of Irvine, the Nihon Keizai Shimbun reported in this morning’s edition.
The U.S. financial firm plans to begin an online auto leasing service in Japan next spring, the newspaper said, citing company sources.
GE Capital plans to acquire more Autobytel Japan shares from Autobytel.com to raise its stake to more than 10% by the end of 1999, the daily said. The report didn’t provide the percentage stake GE Capital currently holds in Autobytel nor the financial terms of the deal.
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