General Electric (GE) is in talks regarding the sale of its assets in Colpatria Red Multibanca, Colombia’s seventh largest bank by assets, The Wall Street Journal reports. GE’s financial unit, GE Money, acquired a 49.7% stake in Colpatria in 2007 for about $286 million.

In September 2010, Eduardo Pacheco, who heads the bank, said it was considering buying GE’s stake. GE sold a bank in Central America in July to Colombian banking group Grupo Aval Acciones y Valores, for $1.9 billion.

Click here for the story from The Wall Street Journal.