TOKYO: General Electric Co has set a Sept 4 deadline for the first round of bids for its Japanese leasing unit, sources with direct knowledge of the matter said on Monday.
The U.S. company hopes to close the deal by the end of November, added one of the sources. The sources were not authorized to discuss the matter publicly.
GE is selling the unit’s machinery and automotive leasing operations, with assets worth about 500 billion yen ($4 billion) and about 1,000 employees, the sources said. The unit’s aircraft finance and real estate businesses will not be included in the sale, they added.
Several large Japanese financial institutions have expressed an interest in buying the operations, they said. A GE representative in Japan could not immediately be reached for comment.
