Deals and IPOs

GE selling health finance unit to Capital One for $9B

GE selling health finance unit to Capital One.
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GE announced plans Tuesday to sell its Healthcare Financial Services U.S. Lending business to Capital One for approximately $9 billion.

The company also signed an agreement with another buyer to sell around $600 million of HFS real estate equity investments.

"This transaction is another example of the value generated by GE Capital's strong businesses and exceptional teams as we continue to demonstrate speed and execute on our strategy to sell most of the assets of GE Capital," said Keith Sherin, GE Capital chairman and CEO.

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Health care merger pressures

The deal follows a list of others with a similar goal to refocus on the company's industrial roots. In April, the company sold $26 billion of real estate assets to Wells Fargo and Blackstone. Shortly after, GE Capital shed its private equity lending portfolio in a $12 billion deal with Canada Pension Plan Investment Board.

The latest transaction brings the total for GE's announced sales to about $78 billion.

GE shares were trading up 0.35 percent in extended hours trading after the deal was announced. Capital One shares were up 0.47 percent.

—Reuters contributed to this report.