Bloomberg reported, citing people with knowledge of the matter, that Wesfarmers and Apollo Global Management made a joint bid for GE’s Australian consumer finance arm, which may fetch as much as $1.2 billion.

Bloomberg said, according to the people, that Macquarie Group submitted an indicative offer with York Capital Management and Pepper Australia for the GE Money unit, while buyout firm KKR teamed with FlexiGroup and Varde Partners.

Private-equity group TPG Capital made a bid with sovereign wealth fund backing, Bloomberg noted.

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