Bloomberg: Investors Lining Up to Acquire GE Money Australia
Bloomberg reported, citing people with knowledge of the matter, that Wesfarmers and Apollo Global Management made a joint bid for GE’s Australian consumer finance arm, which may fetch as much as $1.2 billion.
Bloomberg said, according to the people, that Macquarie Group submitted an indicative offer with York Capital Management and Pepper Australia for the GE Money unit, while buyout firm KKR teamed with FlexiGroup and Varde Partners.
Private equity group TPG Capital made a bid with sovereign wealth fund backing, Bloomberg noted.
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