Fisher & Paykel Appliances Holdings (FPA) announced today that it has sent an information memorandum to more than 10 parties interested in buying its finance business.
"We are extremely pleased with, not only the number, but also the quality of interested parties that have approached us," said Fisher & Paykel CEO and Managing Director John Bongard.
"The level of interest has certainly justified our decision to investigate the possible sale of this business."
Indicative bids are due to be made by close of business on February 13 and final bids by late March.
Fisher & Paykel said the business will only be sold if the bids exceed the company's "internal value expectations".
The most likely industry bidder is GE Finance which last year bought Pacific Retail Group's finance arm for $145 million.
The market is speculating that other major banks such as the ANZ are also potential bidders.
At 1:00PM AEST shares in FPA had fallen by 1% or 3 cents, trading down at $2.95.
