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BANKING & FINANCE

From Times Staff and Wire Reports

Chase to Sell $2.2 Billion in Assets: Chase Manhattan Corp. said it is selling the U.S. and Canadian assets of its Chase Manhattan Leasing Co. subsidiary for $2.2 billion. New York-based Chase, the nation’s third-largest banking company, said the sale is part of its ongoing restructuring. Sale of the assets, much of them office equipment, will not affect Chase’s business of arranging large lease financing for commercial aircraft, other transportation equipment and big capital projects, the bank said. As part of its restructuring, Chase has cut its work force by 5,000 workers in recent months through attrition, voluntary separation programs and the sale of certain businesses.


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