A PYMNTS Company

US: Starwood, Apollo bid for $4B GE air-finance unit

 |  July 24, 2019

Starwood Capital Group and Apollo Global Management have submitted offers to buy an aircraft-financing business owned by General Electric that could be valued at about US$4 billion, Bloomberg reported on Tuesday, July 23, citing people familiar with the matter.

GE is working with advisers as it explores a possible sale of PK AirFinance, a unit of the company’s broader aircraft-leasing business known as GECAS, and has received interest from potential suitors, some of which have advanced into the next round of bidding, according to the report.

Starwood Capital declined to comment, while GE and Apollo Global were not immediately available to Reuters’ requests for comment.

Full Content: Bloomberg

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.