GE shares jump after report says Apollo is considering a bid for its huge jet-leasing business

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Flickr/ @MJB

Shares of General Electric jumped 4% in after-hours trading on Friday after a report said Apollo was considering making a bid for GE’s jet-leasing business, GE Capital Aviation Services.

The asset manager is reportedly talking to bankers about lining up debt to buy all or part of the unit, Bloomberg News reported. The deal could be worth up to $40 billion, according to Bloomberg citing people familiar with the matter.

After plummeting in 2018, GE shares rose 7% on the first day of trading in 2019. The industrial conglomerate’s stock price is down 54% in one year.

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Markets Insider