Report : Starwood, Apollo Offer To Buy GE's Aircraft-financing Unit For $4 Bln

(RTTNews) - Starwood Capital Group and Apollo Global Management have submitted offers to buy an aircraft-financing business owned by General Electric Co. (GE), which could fetch around $4 billion, Bloomberg reported citing people familiar with the matter.

GE is working with advisers as it explores a possible sale of PK AirFinance, a subsidiary of the conglomerate's broader aircraft-leasing business known as GECAS.

GE has received interest from potential suitors, some of which -- including affiliates of Starwood and Apollo -- have advanced into the next round of bidding, the report said.