GMAC may sell factoring business to Wells Fargo-Bloomberg

Newswire

March 24 (Reuters) - U.S. auto finance company GMAC Financial Services may sell its factoring business unit to Wells Fargo & Co , Bloomberg said, citing two people with direct knowledge of the matter. The sale may be announced on Wednesday, one of the people told the agency. GMAC spokeswoman Gina Proia told Reuters that she has no comment on the report. The factoring business will be integrated into Wells Fargo Trade Capital, according to the agency. Factoring companies typically ...

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