Daily News: April 28, 2015

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.

To read the entire Bloomberg article, click here.