Daily News: November 9, 2015

Reuters: Three Buyout Funds Said to be Vying for GE’s French Banking Arm

Reuters reported, citing four sources familiar with the matter, that three buyout funds are vying to buy General Electric’s banking unit in France which has approximately $6.6 billion worth of assets.

Reuters said private equity groups CVC Capital Partners, Cerberus Capital Management and JC Flowers have placed rival bids for GE Money Bank in France.

Reuters noted, according to the sources, Morgan Stanley and Rothschild are leading the sale.