Large private-equity firms might be proposing to acquire Philips lighting unit for EUR 5.5 billion (US $6 billion), a Bloomberg report cited a person familiar with the matter saying.

CVC Capital Partners, in partnership with KKR & Co., Bain Capital and Onex Corp were some of the firms interested in proposing bids to acquire Philips lighting business, said people who declined to be identified since the talks were private. Philips is being advised by JPMorgan Chas &Co. and Goldman Sacs Group about the sale, but no final decision has been reached on the bids, they said.

According to the Bloomberg report, some of the bidders have also shown an interest in buying LED component business unit Lumileds, if U.S. regulators ban the $2.8 billion deal with investment consortium headed by China’s GO Scale Capital. KKR, CVC, and Bain bid for Lumileds was unsuccessful in March.

Parties involved in the talks have declined to make any further comments on the case.

Philips is separating its lighting business from health-care and consumer lifestyle units to position itself to take advantage of the budding health device, and phone app demands from consumers to monitor their health, said Philips CEO Frans van Houten.

The Amsterdam-based company is also exploring the option of issuing an IPO for the business, the company stated earlier.

Philips lighting division founded in 1891 makes up about a third of the company’s revenue, its second largest unit after the health-care division.