Reuters reported General Electric Co plans to spin off the U.S. consumer lending operations of GE Capital, as the conglomerate moves to focus on its core indtrial operations, the Wall Street Journal reported, citing people familiar with the matter.
 
Preliminary work to spin off the unit through an initial public offering is under way, the newspaper said. An IPO could come early next year, but its size has not yet been determined, the people told the paper.

Bankers from JPMorgan Chase & Co (JPM.N) and Goldman Sachs Group Inc (GS.N) are working on a possible public offering, while alternatives include smaller spin-offs or asset sales, the WSJ said.

To read the full Reuters article, click here.