April 27, 2018 / 2:03 PM / 7 months ago

GE attracts Wartsila, private equity interest for Jenbacher - sources

FILE PHOTO: The General Electric logo is pictured on the General Electric offshore wind turbine plant in Montoir-de-Bretagne, near Saint-Nazaire, western France, November 21, 2016. REUTERS/Stephane Mahe/File Photo

FRANKFURT (Reuters) - General Electric (GE.N) has attracted Finland’s Wartsila (WRT1V.HE) and U.S. peer Cummins (CMI.N) as potential buyers of its 3 billion euro (2.17 billion pounds) distributed power operations, which it is looking to sell to shore up its finances, people close to the matter said.

The U.S. conglomerate said last week that it may by mid-year be able to announce a deal for the unit, which includes the reciprocating gas engines makers GE Jenbacher and Waukesha.

Besides Wartsila and Cummins, buyout groups Advent, Bain, CVC, KKR, B&C Holding have made it to the second round of the auction, the people said. One of the people said that before final bids, the suitors may be asked for confirmatory offers in a couple of weeks.

GE and the bidders declined to comment.

Reporting by Arno Schuetze; Editing by Victoria Bryan

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