General Motors Co., through its captive finance company, made a bid to acquire the international arm of Ally Financial, according to the company’s Aug. 13 filing with the Securities and Exchange Commission (SEC). If successful, GM Financial could acquire Ally’s operations in Canada, Mexico, Europe and Latin America.

According to the SEC filing, GM Financial joined a number of other companies that submitted bids in July. The report said the bidding process is still in the early stages.

“There is no assurance that GM Financial will be successful in acquiring any of Ally Financial’s international operations,” read the SEC filing. “However, if GM Financial is successful in completing a transaction, it could expand its operations materially in international markets. Such expansion could have significant impacts on its business, results of operations, liquidity and financial condition.”

If successful, the acquisition of Ally’s international arm could potentially double GM Financial’s consolidated assets. The captive finance company could also incur substantial amounts of indebtedness.

“Depending on the scale of the operations GM Financial may acquire and the amount of equity that it invests in such a transaction or transactions, its consolidated debt and other liabilities could potentially more than double and its ratio of adjusted assets to adjusted equity could potentially more than double as well,” the filing read.