Apollo Global, Athena buys GE Capital’s aircraft lending unit

(Reuters) – Global management of Apollo APO.N and Athena Holding ATH.N said Thursday they would buy PK AirFinance, an aircraft lending business that is part of GE Capital’s aviation services unit, for an undisclosed amount.

Private equity firm Apollo would acquire PK AirFinance’s aircraft lending platform and life insurance holding company Athene would acquire its existing lending portfolio, the companies said in a statement. (reut.rs/2ZAC2y6)

The deal is expected to close in the fourth quarter of 2019.

Citi and Goldman Sachs & Co. LLC were financial advisors to GE Capital and RBC Capital Markets advised Apollo.

Reporting by C. Nivedita and Bharath Manjesh in Bengaluru; Editing of Shinjini Ganguli

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