EverBank Financial Corp To Buy General Electric Capital Unit For $2.51 Billion-Reuters

Reuters reported that EverBank Financial Corp said it would buy General Electric Capital's Business Property Lending Inc division for $2.51 billion to boost its ability to lend to small and mid-size companies, driving up its shares more than 4%. The latest deal includes about $2.44 billion of performing commercial loans, origination and servicing platforms, and servicing rights on $3.1 billion of loans securitized by GE Capital. EverBank, which counts private equity firms TPG, Sageview Partners and New Mountain Partners as investors, said the deal is expected to close in the fourth quarter.