GE Limits Sponsored Finance Bidders to 12
According to Reuters, General Electric has sent out nondisclosure agreements (NDAs) to potential bidders of its sponsored finance business, which includes Antares, three sources said. The company is limiting the field to 12 interested buyers, Reuters reported.
Part of the sale includes a joint venture GE has with Ares Management, Reuters said. So far, Apollo Management, Ares and Mitsubishi UFJ Financial Group have signed the NDAs, according to Reuters. Macquarie is in talks to partner with Ares to make a bid for GE’s sponsored finance unit; it’s unclear if Macquarie has signed the NDA, Reuters said.
To view the full Reuters report, click here.