CIT Completes Acquisition of Heller Financial's Commercial Services Unit.LIVINGSTON, N.J.--(BUSINESS WIRE)--Dec. 1, 1999-- The CIT n. 1. A citizen; an inhabitant of a city; a pert townsman; - used contemptuously. Which past endurance sting the tender cit. - Emerson. Group, Inc. (NYSE NYSE See: New York Stock Exchange :CIT;TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CGN CGN Compagnie Générale de Navigation (sur le Lac Léman; French, cruise companie on Lake Geneva, Switzerland) CGN Cancer Genetics Network CGN Guided Missile Cruiser (Nuclear Propulsion) CGN Cyber Gaming Network .U) has announced that it has completed the acquisition of certain of the assets of Heller Financial's Commercial Services unit. On October 4, 1999, CIT announced that it had signed an agreement with Heller Financial, Inc. (NYSE:HF) to purchase certain of the assets of its domestic factoring unit. As of November 30, 1999, Heller's Commercial Services unit had total net assets of approximately $375 million reflecting approximately $935 million of factored accounts receivable and approximately $560 million of credit balances due factoring clients. Founded in 1908, CIT is one of the nation's largest commercial and consumer finance companies. For more information, visit the Company's Web Site at www.citgroup.com. |
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