KKR, Apollo Bidding on GE's $11B Inventory Finance Arm

Sep 11 2015 | 8:04pm ET

(Reuters) - KKR and Apollo Global Management are seeking to acquire General Electric's inventory finance arm, Bloomberg reported on Friday.

The buyout firms made bids two weeks ago for GE Capital Commercial Distribution Finance, a unit with $11 billion in assets, the report said, citing people familiar with the matter.

Bloomberg said GE could select a buyer for the unit by the end of the month.

GE said in April it would seek to sell some $200 billion of its GE Capital assets as it moves away from financial services and focuses more on manufacturing jet engines, power turbines and other big-ticket industrial equipment.

KKR did not immediately comment, while Apollo declined comment. GE could not be immediately reached for comment.

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