UPDATED -- General Electric (NYSE: GE) has reportedly hired investment banks to sell its health care, railcar and franchise finance units, as part of the company's divestiture of GE Capital. The company enlisted JPMorgan Chase to sell Healthcare Financial Services, Deutsche Bank to sell the railcar unit and Barclays to sell its franchise group, Bloomberg reports. 

The bidding process for $40 billion worth of GE Commercial Lending assets is also underway, Mergers & Acquisitions has confirmed. The units include GE Capital's Commercial Distribution Finance business, and Corporate Finance business. 

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