World Economy

$11b Bid

$11b Bid$11b Bid

KKR & Co. and Apollo Global Management are seeking to acquire General Electric Co.’s inventory finance arm, a unit with $11 billion in assets, as the company retreats from banking, people familiar with the matter said, Bloomberg reported. The buyout firms made bids two weeks ago for GE Capital Commercial Distribution Finance, said the people, who asked not to be identified because the negotiations are private. GE could select a buyer by the end of the month for the unit, which arranges credit for retailers and manufacturers, the people said. The business is among a batch of four commercial lenders with a combined $40 billion in assets that GE began auctioning in June.