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Bloomberg reported SunTrust, Apollo Global Management and Ares Management are weighing offers for a General Electric unit that lends to private-equity firms, people familiar with the matter said.
Bloomberg reports that concern over possible staff defections at the so-called sponsor-finance unit are causing GE to move swiftly on the sale, with first-round bids due in mid-May, said the people. Representatives for GE, Apollo, Ares, SunTrust, Citigroup and Bank of America declined to comment.
To read the full Bloomberg report - "GE Buyout-Lending Unit Said to Interest SunTrust, Apollo, Ares", click here.