GE Picks Cummins, Kohler, KKR To Bid For Gas-Engine Business: Bloomberg

(RTTNews) - General Electric Co. (GE) is moving closer to a sale of its industrial gas-engine business for more than $3.5 billion after narrowing the list of bidders, the Bloomberg reported, citing people familiar with the matter.

Manufacturers Cummins Inc. and Kohler Co., and a group comprised of investment firms KKR & Co. and B&C Industrieholding GmbH, advanced to the next round of bidding, the report said citing people, who asked not to be identified because the discussions are private.

The final pool reportedly hasn't been determined and may still include other bidders. An initial bid had also been submitted by marine-engine producer Wartsila Oyj, the report noted.

Representatives for GE, Cummins, Kohler and B&C Industrieholding declined to comment. Representatives for KKR and Wartsila didn't immediately respond to requests for comment.