Office equipment company Xerox Corp. has sold its European financing portfolio to an as yet unnamed partner for $370 million in cash.
The company has sold its existing portfolio of lease receivables for customers in Denmark, Sweden, Finland and Norway. Talks are underway with potential vendors in other countries to complete the transition of equipment financing to third party vendors.
The sale is part of the Xerox restructuring plan to reduce debt and raise cash.
6-Apr-2001
