Bloomberg reported that General Electric will seek initial bids for its Japanese leasing business in late August, according to sources with knowledge of the situation.

In the report, Bloomberg said that GE will circulate information on the business, which has over $4 billion of assets, to potential buyers later in July.

Bloomberg also noted that GE’s plan is to selected two or three candidates and then hold a second bidding in November, with hopes of making an agreement before the end of the year.

Read the full Bloomberg report here.