Standard Chartered To Buy GE Commercial Financing

12th Jul 2010 06:59

HONG KONG (Dow Jones)--Standard Chartered PLC (STAN.LN) has signed an agreement to acquire GE Commercial Financing (Singapore) Ltd. to bolster its small and medium enterprises business, the bank said in a statement Monday. GE Commercial Financing had assets totaling S$183 million (US$132 million) as of Dec. 31, Standard Chartered said, adding regulators have approved the deal and that it expects to complete the transaction by the end of July. The lender didn't provide other details on the agreement. -By Kate O'Keeffe, Dow Jones Newswires; 852-2802-7002; [email protected] (END) Dow Jones Newswires July 12, 2010 01:59 ET (05:59 GMT)