According to a Dow Jones Business News report on NASDAQ, Sumitomo Mitsui Financial Group is set to enter exclusive talks to buy GE's Japan leasing business, a person familiar with the matter said Friday.  SMFG's offer values the business at more than Y550 billion ($4.5 billion), the person said.

According to the report, the business for sale has an asset value of about $5 billion and comprises several divisions, including direct lending to industrial companies purchasing big-ticket equipment such as heavy machinery. It also offers vendor financing, helping manufacturers provide smaller businesses with financing.

Read the full report on NASDAQ: Sumitomo Mitsui Financial Group to Enter Exclusive Talks to Buy GE Japan Lease Business -- Source