August 29, 2019 / 11:37 AM / 19 days ago

Apollo Global, Athene to buy GE Capital's aircraft lending unit

(Reuters) - Apollo Global Management (APO.N) and Athene Holding (ATH.N) said on Thursday they would buy PK AirFinance, an aircraft lending business that is a 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 portfolio of loans, 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 advisers to GE Capital and RBC Capital Markets advised Apollo.

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

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