Fairfield-based General Electric Co. has put its railcar leasing business up for sale, its second attempt in three years to offload a business that could be worth more than $3 billion, Reuters reports, citing sources.
GE, the largest U.S. conglomerate, has hired Morgan Stanley to advise it on the sale process, which was kicked off in recent days, said the source, who requested anonymity because the talks are not public.
The company’s financial adviser has sent out initial information to potential buyers, including private equity and strategic bidders, and initial bids for the business are due next week, the source said.
GE representatives were not immediately available for comment and Morgan Stanley declined to comment, Reuters said.
