General Electric to Sell $1.4 Billion of Assets

Shares of General Electric are higher Tuesday on word the company agreed to sell its $1.4 billion restaurant finance business to three regional buyers.
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Shares of General Electric (GE) - Get Report are higher Tuesday on word the company agreed to sell its $1.4 billion restaurant finance business to three regional buyers. First Horizon National (FHN) - Get Report , which is based in Tennessee, will acquire assets in the Southwest and Southeast. Illinois-based Wintrust Financial (WTFC) - Get Report will acquire assets in the Midwest and part of the West. While, New York based Sterling National Bank will acquire assets in the east. The remaining assets in the West will be sold separately.

This article was written by a staff member of TheStreet.