Kelley Drye Represents DaimlerChrysler in Sale of Capital Services Portfolio

Kelley Drye represented DaimlerChrysler in the closing sale of part of its capital services portfolio to GE Capital, part of the General Electric Company, for approximately $1.2 billion. The deal, which was reported in The Wall Street Journal, The New York Times and The Daily Deal, transfers assets from DaimlerChrysler’s commercial real estate portfolio and asset-based lending portfolio to GE Capital. DaimlerChrysler Capital Services is responsible for commercial financing within DaimlerChrysler Services, specializing in selected assets such as aircraft, commercial real estate and ships.