The sale is in its early stages and comes as the conglomerate is also looking to sell its commercial lending operation in Japan. GE wants to get out of the banking business.
Two months ago GE reached a deal to sell its Australia and New Zealand consumer-lending segment for an enterprise value of $6.3 billion, The Journal said, adding that company CEO Jeff Immelt has vowed to refocus GE towards industrial businesses that range from wind turbines to aircraft engines.
Immelt is looking to sell or spin off the majority of the company's $500 billion in global financial assets and intends to use the proceeds to return $50 billion to GE shareholders.
Shares of GE are down by 0.13% to $27.32 in late morning trading on Wednesday.
Separately, TheStreet Ratings team rates GENERAL ELECTRIC CO as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate GENERAL ELECTRIC CO (GE) a HOLD. The primary factors that have impacted our rating are mixed-some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its expanding profit margins and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, generally higher debt management risk and disappointing return on equity."