Sumitomo Mitsui reportedly looking at GE Rail Unit

General Electric (NYSE:GE) may have another buyer in line for its capital unit as Japan’s Sumitomo Mitsui Financial reportedly analyzes GE’s railway-leasing business.

The GE financier is worth about $4 billion, according to sources cited by the Wall Street Journal on Tuesday.

Wells Fargo (NYSE:WFC) and other U.S. financial institutions also have expressed interest in GE Capital Rail Services, the report said.

GE shares rose 0.4% to 27.54 by early afternoon in the stock market today.

Earlier this month GE said it would sell its private equity lending unit to the Canada Pension Plan Investment Board, a deal valued at $12 billion.

GE is looking to shed its financing assets to focus on its industrial core as new banking regulations weigh on GE Capital.

In June, the company started the bidding process for its commercial distribution finance business, equipment finance business and its corporate finance division.

Potential bidders reportedly include Toronto-Dominion Bank (NYSE:TD), CIT Group (NYSE:CIT), Ally Financial (NYSE:ALLY) and Wells Fargo.

GE is on track to reach its goal of selling $100 billion in assets by the end of the year.

The report also said other Japanese firms — Sumitomo Mitsui Financial (NYSE:SMFG), Mitsubishi UFJ Financial (NYSE:MTU) and Orix (NYSE:IX) — have shown interest in GE’s Japanese commercial financial operations.

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