GE to Sell the Core Bank of Bank BPH in Poland to Alior Bank

FAIRFIELD, Conn.--(BUSINESS WIRE)--GE (NYSE:GE) has entered into an agreement to sell GE Capital’s majority stake in Bank BPH’s (WSE:BPH) Core Bank to Alior Bank (WSE:ALR). With this transaction, Bank BPH will be transformed into two separate operating units, the Core Bank and the Mortgage Bank, followed by the spin-off and demerger of the Core Bank into Alior Bank. The Core Bank will include the non-mortgage banking assets of Bank BPH and the employees associated with those businesses. The tra