GE says to become sole shareholder of East Asia unit

NEW YORK, Feb 3 (Reuters) - GE Commercial Finance, a unit of General Electric Co. (GE.N: Quote, Profile, Research, Stock Buzz) said on Sunday it would become the sole shareholder of its unit in East Asia, buying out a 50 percent stake from The Bank of East Asia, Ltd, of Hong Kong.

GE bought a 50 percent stake in East Asia GE Commercial Finance in 2001. GE said in a statement the deal was a key step towards executing its long-term strategy for the Greater China market. (Reporting by Megan Davies)