OTHER NEWS - Jan. 7, 1993
From Times Staff and Wire Reports
GE Capital to Buy Finance Arm of Weyerhaeuser: GE Capital, a unit of General Electric Co., said it will buy GNA Corp., the financial-services division of Weyerhaeuser Co., for $525 million in cash. Seattle-based GNA sells tax-deferred annuities and mutual funds through financial institutions and last year sold more than $3 billion worth of financial products. As part of the transaction, Weyerhaeuser will assume $225 million of outstanding GNA debt and Stamford, Conn.-based GE Capital will acquire 100% of GNA’s stock, the companies said in a statement. Analysts said they expect General Electric to continue to hunt for bargain acquisitions as it strengthens the consumer arm of its profitable and quickly growing financial-services businesses.
