Capital One, Apollo among bidders for GE health-care lender: Bloomberg
(Reuters) - Capital One Financial Corp (COF.N: Quote) and Apollo Global Management APO.N have bid for General Electric Co's (GE.N: Quote) health-care finance unit, which could fetch more than $11 billion, Bloomberg reported.
Initial bids for the unit which offers mortgages and business loans to health-care providers were due June 18, Bloomberg reported, citing people with knowledge of the matter. The next round of bidding is due in early July.
Fairfield, Connecticut-based GE also received offers from Ares Management LP ARES.N and Ventas Inc VTR.N, Bloomberg reported.
GE is working with JPMorgan Chase & Co (JPM.N: Quote) on the sale and may select a buyer by the end of July, Bloomberg said.
GE announced plans in April to sell $200 billion worth of finance assets as it focuses on the manufacturing of industrial products.
An Ares Management spokesman said the company's policy was to not discuss any action it may or may not be contemplating.
The other companies could not be reached for comment outside regular business hours.
(Reporting by Ismail Shakil in Bengaluru; Editing by Anupama Dwivedi)
© Thomson Reuters 2017 All rights reserved.