Wells Fargo part of group that's buying GE Capital Real Estate for $26.5B, Bloomberg reports (Video)

General Electric (NYSE: GE) will sell GE Capital Real Estate, the financing part of its business, to a group of interests that includes Blackstone Group and Wells Fargo (NYSE: WFC). The sale, for $26.5 billion, continues the company's move to refocus on its manufacturing operations, producing jet engines and electrical turbines. San Francisco-based Wells Fargo (NYSE: WFC) has its East Coast hub in Charlotte, N.C., where the bank has its largest base of employees.