July 23, 2019 / 9:34 PM / a month ago

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

(Corrects to say Starwood Capital did not immediately respond to a Reuters request for comment, not declined to comment, in third paragraph)

July 23 (Reuters) - Starwood Capital Group and Apollo Global Management have submitted offers to buy an aircraft-financing business owned by General Electric Co 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. (bloom.bg/2M9iZI6)

Starwood Capital, GE and Apollo Global did not immediately respond to a Reuters request for comment. (Reporting by Shanti S Nair in Bengaluru; Editing by Anil D’Silva)

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