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BREAKING NEWS

Starwood, Apollo bid for $4 billion GE air-finance unit - Bloomberg

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(Reuters) – Starwood Capital Group and Apollo Global Management <APO.N> have submitted offers to buy an aircraft-financing business owned by General Electric Co <GE.N> that could be valued at about $4 billion, Bloomberg reported on Tuesday, 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.

(Reporting by Shanti S Nair in Bengaluru; Editing by Anil D’Silva)

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