General Electric Co.’s aerospace unit, Transdigm Group Inc. and CVC Capital Partners are among potential suitors for the avionics business being sold by L3Harris Technologies Inc., people with knowledge of the matter said.

The unit could also attract interest from investment firms including Arcline Investment Management ahead of the mid-August bidding deadline, according to the people, who asked not to be identified discussing confidential information.

Bloomberg News reported in July that the aerospace and defense company is working with an adviser to explore a sale of its avionics business, which could fetch about $1 billion based on typical earnings multiples.

No final decisions have been taken and some suitors could opt not to proceed with a bid, the people said. Representatives for Arcline, CVC, GE and L3Harris declined to comment, while representatives for Transdigm didn’t respond to requests for comment.

With a divestiture, L3Harris would join other large aerospace and defense companies selling non-core assets. Safran SA agreed on July 21 to buy an aerospace business from RTX Corp. in cash for an enterprise value of $1.8 billion, adding flight-control and actuation activities alongside 3,700 employees.

Ball Corp., the maker of beer cans and packaging products, said in June it’s considering options for its aerospace business, adding to list of potential asset disposals in the sector.

Read more: Aerospace Iron Mongers Ready for M&A Lift Off: Bloomberg Deals

L3Harris’s avionics unit makes electronics, including flight control instruments, radio and navigation systems, for commercial and military aircraft. Shares in L3Harris have fallen about 10% this year as elevated material costs sap margins. The company has a market value of roughly $36 billion.

(Adds other aerospace asset sales in sixth paragraph)

Author: Aaron Kirchfeld, Kiel Porter and Ryan Beene