IE Staff
(October 26 – 12:30 ET) –
Newcourt Credit Group has
received the approval of its
shareholders for the company to be
acquired by The CIT Group.
Newcourt Credit Group provides
asset-based financing serving the
corporate, commercial and
institutional markets with owned
and managed assets of US$24.9
billion and a global capability in
26 countries.
On August 5, 1999, Newcourt and
CIT announced that they had signed
a new definitive agreement under
which CIT would acquire Newcourt
in an exchange of .70 share of
CIT stock for each share of
Newcourt. The combination of these
two companies will create the
largest publicly owned commercial
finance company.
-IE Staff
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