Bloomberg reported General Electric will seek initial bids for its Japanese leasing business in late August, said people with knowledge of the situation.

According to the Bloomberg report, GE will distribute documents with information on the business to potential bidders later this month, according to the people, who asked not to be named as the sale process is confidential. The Japanese leasing operation has 500 billion yen ($4.1 billion) of assets and 1,000 employees.and does commercial lending as well as leasing of automobiles, office equipment and construction machinery.

To read the full Bloomberg report, click here.