More turbulence coming? GE considering disposing of GECAS, which includes Milestone.
https://www.cnbc.com/2019/01/17/john...0-billion.html
"Moreover, we do not believe that GECAS would fetch anywhere close to the book value of its assets in a potential sale, while the proceeds to GE could end up a fraction of the sale price," Inch added.
GECAS had a "book value" of $40.6 billion as of the third quarter of 2018. Inch said he believes the business is "worth far less" than that. Instead, Inch said "third party assessment" shows the GECAS aircraft leasing portfolio is worth $25.8 billion, rather than $32.8 billion, and the GECAS helicopter leasing group is worth $2 billion, rather than $4 billion.
And the potential buyer?
https://www.cnbc.com/2019/01/07/buyo...t-sources.html
Apollo's bid comes as GE's new chief executive officer, Larry Culp, is battling to restore profits and slash debt after the industrial conglomerate lost $22.8 billion in the third quarter, mostly from its ailing power unit.