Starwood Property Trust (STWD) Tops Q2 EPS by 1c, Revenues Beat

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Go back to Starwood Property Trust (STWD) Tops Q2 EPS by 1c, Revenues Beat

Starwood Property Trust (STWD) to Buy Energy Project Finance Debt Business from GE Capital (GE) for $2.56 Billion

August 8, 2018 6:47 AM EDT

Starwood Property Trust, Inc. (NYSE: STWD) (the "Company") today announced that the Company has entered into a definitive agreement to acquire GE Capital's (NYSE: GE) Energy Financial Services' Project Finance Debt Business ("Energy Project Finance Debt Business") and loan portfolio (the "Loan Portfolio") for $2.56 billion, including $400 million of unfunded loan commitments. The acquired business will leverage the extensive experience of the Company's affiliate, Starwood Energy Group, which specializes in comparable energy infrastructure equity investments and has executed transactions with approximately $7 billion in asset value since its inception in 2005.

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UPDATE: Starwood (STWD) Said to Buy GE (GE) Energy Finance Unit for $2.56 Billion - Bloomberg

August 8, 2018 6:15 AM EDT

(Updated - August 8, 2018 6:30 AM EDT)

Starwood Property Trust (NYSE: STWD) plans to buy General Electric's (NYSE: GE) energy finance business for $2.56 billion, according to a report from Bloomberg Wednesday , citing people with knowledge of the matter. The deal includes $2.1 billion of loans in the U.S., Europe, and the Mideast.

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