Fleet News

GE buys UBS lease business

GE CAPITAL Services is buying Union Bank of Switzerland's car leasing business. The operation, run by UBS subsidiary Bank Aufina, is the Swiss market leader with a 26% share.

Details of the deal, which also involves the acquisition of UBS's consumer credit businesses run by Bank Aufina, have not been revealed. The move follows GE Capital's purchase of the Czech Republic's largest independent car leasing firm and the acquisition of Italian car leasing operation Vega Lease.

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