The Wall Street Journal reported that private equity group Cerberus Capital Management submitted a binding offer for GE Money Bank, GE’s French consumer-credit unit.

The sale, which excludes the unit’s mortgage portfolio valued at $2 billion, represents a $4.6 billion ending net investment as of March 31, according to the Journal.

The Journal noted that the transaction is expected to close in Q4/16, provided it receives approval from regulators.

Since its announcement in April 2015, GE has divested approximately $156 billion of GE Capital, including this deal, the Journal reported.