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GE DIVISION BUYING BOMBARDIER FINANCE UNIT

GE Commercial Finance, the business-to-business financial services unit of General Electric Co., said today it will purchase Bombardier Capital's inventory finance division for $1.4 billion in cash plus $1 billion in debt and other liabilities.

The acquired company, which is part of the financing division of Montreal-based Bombardier Inc., provides floor plan financing for a range of equipment in the U.S. and Canada. BCIFD is headquartered in Colchester, Vermont and has about 280 employees.

The Bombardier Capital division is comprised of four main business units that provide financing for a variety of products, including snowmobiles, all terrain vehicles, boats, motors, and boat trailers, as well as recreational vehicles.

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