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Orix
Corp and the leasing units of Sumitomo Mitsui Financial Group
Inc, Mitsubishi UFJ Financial Group Inc and Sumitomo Mitsui
Trust Holdings Inc are among the bidders, the sources said.
The Wall Street Journal, which first reported the news, said the
finance unit's assets are valued at about $5 billion. (http://on.wsj.com/1i0Aus7)
A spokesman for Sumitomo Mitsui Financial Group declined to
comment. Officials at Orix, Mitsubishi UFJ Financial Group and
Sumitomo Mitsui Trust Holdings were not available for comment.
GE was not immediately available for comment.
The sale is part of GE's plan, unveiled in April, to divest
about $200 billion in GE Capital assets as the conglomerate
moves away from finance to focus on manufacturing.
GE had set a Sept. 4 deadline for the first round of bids for
the Japanese unit, hoping to close the deal by the end of
November, Reuters reported on July 27.
Last month, GE agreed to sell GE Capital Bank's U.S. online
deposits worth $16 billion to Goldman Sachs Group Inc.
In the same month, GE also sold its U.S. healthcare finance unit
to credit card lender Capital One Financial Corp for about $9
billion.
(Reporting by Taiga Uranaka in Tokyo and Arunima Banerjee in
Bengaluru; Editing by Savio D'Souza)
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