GE Consumer Finance, a U.S. mortgage and home equity lender, plans to acquire a stake in a Panama City, Panama-based financial institution that is active in the mortgage business.GE's pending purchase of a 49.99% stake in BAC International Bank at an undisclosed price is still pending regulatory approval but is expected to close in the "next few months," according to GE. BAC is one of the largest banks in Central America, with 178 branches in several countries, including Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and Panama.

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