Bidders for GE Capital’s Australian Units Down to 3

According to the New York Times, there are only three remaining contenders for the final round of the auction for GE Capital’s Australian commercial lending and leasing businesses.

Citing a source closer to the matter, the Times said that the final contenders are Sankaty Advisors, Lone Star and HNA Group of China.

GE Capital’s Australian businesses have a book value of about $1.8 billion. The auction is being run by Morgan Stanley.

In addition, the Times noted that bidders that have either pulled out or have been rejected include the Macquarie Group, Bank of Queensland, an Australian regional bank, the Blackstone Group, Kohlberg Kravis Roberts and TPG Capital.

Read the full article from the Times here.

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Terry Mulreany
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