U.S. Markets closed

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

(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. (https://bloom.bg/2M9iZI6)

GE and Apollo Global declined to comment, while Starwood Capital was not immediately available to a Reuters request for comment.


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