SunTrust, Apollo, Ares Weighing Offers for GE Lending Unit
Bloomberg reported SunTrust Banks, Apollo Global Management and Ares Management are weighing offers for a General Electric unit in the U.S. that lends to private-equity firms, people familiar with the matter said.
According to the Bloomberg sources, GE is working with Citigroup to sell the business, which could garner more than $10 billion, which is the face value of its outstanding loans.
Bloomberg said further U.S. Bancorp, JPMorgan Chase and others have said they’re interested in bidding for the assets.
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