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Franchise Finance Corporation of America (FFCA), a convenience store and petroleum marketing industry finance company, said shareholders approved the planned acquisition of FFCA by Stamford, Conn.-based GE Capital Commercial Equipment Financing by merger.
Of the votes cast, more than 90 percent were voted in favor of the merger. The acquisition of FFCA by GE Capital is still pending regulatory approval. The deal is expected to close by the end of the year.
FFCA has a combined investment and servicing portfolio of more than 6,400 properties throughout the United States and Canada. Its clients include Chevron, Tosco. Citgo, Clark, Cracker Barrel, 7-Eleven, Texaco and Burger King.
GE Capital, with assets of more than $370 billion, is a global, diversified financial services company and subsidiary of General Electric Co.