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General Electric Shares Jump on Reports of Interest in $40 Billion Aviation Unit

Martin Baccardax

shares gained Monday after a report suggested Apollo Global Management could be preparing a $40 billion bid for the group's airplane leasing division. Bloomberg reported Friday that the private equity group is in the process of securing around $30 billion in funding for a bid to buy all or part of GE Capital Aviation Services, a wholly-owed unit of GE with a near 2,000-strong fleet of aircraft that generated around $271 million in third quarter profits. Reuters reported similar interest in the aviation unit late Friday as well, with both citing an enterprise value of $40 billion.