By Kiel Porter, Gillian Tan, Sonali Basak and Rick Clough
January 4, 2019 - Bloomberg -
Apollo Global Management LLC is talking to bankers about lining up debt to buy all or part of General Electric Co.’s jet-leasing business, which could be worth as much as $40 billion, according to people familiar with the matter.
The New York-based alternative asset manager has met with lenders to secure about $30 billion in financing to purchase GE Capital Aviation Services as potential buyers circle one of the ailing manufacturer’s crown jewels, said the people, who asked not to be identified because the matter isn’t public.
No deal is imminent and GE may opt to keep the business, they said. The unit has drawn interest from other potential buyers, they said.
GE shares rose as much as 5.1 percent in late trading in New York.
Representatives for GE and Apollo declined to comment.
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