General Electric Co
The exact reasons for the auction's failure were not clear, but one source said financing was likely an issue, indicating that funding the purchase of a large leasing business remains challenging despite improved credit conditions.
GE officials did not immediately respond to a request for a comment.
GE put the business on the block earlier this year as part of its continuing effort to trim its GE Capital unit. GE tried selling the business in 2008 as well, just as the financial crisis took hold. At the time, GATX Corp
This time around, the unit drew bids from several private equity firms, including a consortium of Warburg Pincus
Others including Vestar Capital Partners and Greenbriar Equity Group, billionaire investors Carl Icahn and Wilbur Ross, and Australia's Macquarie Group
(Reporting by Soyoung Kim and Paritosh Bansal, editing by Maureen Bavdek)