*NEWS*IKON SELLS $300M LEASES TO G.E.

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*NEWS*IKON SELLS $300M LEASES TO G.E.

 user 2006-04-11 at 9:49:00 am Views: 73
  • #15018

    Ikon completes deal with GE unit
    April
    06:Ikon Office Solutions Inc. said late Monday it has completed the
    previously announced sale of more than $300 million of U.S. lease
    receivables to GE Capital Solutions.

    The Malvern, Pa.,
    provider of copiers, printers and related products and services,
    expects the transaction, which closed April 1, will net it about $70
    million after payment of related debt and taxes.Ikon will discuss the
    deal during its second-quarter earnings conference call on April 27.
    The lease receivables are payments Ikon was scheduled to get from
    customers on equipment leases, Ikon has said.