Deals
Apollo to Buy $1 Billion of Energy Investments From GE Capital
- Portfolio includes investments in renewable energy, power
- Transaction extends manufacturer’s push to shed finance assets
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General Electric Co. agreed to sell about $1 billion of equity investments to Apollo Global Management as the downtrodden manufacturer extends a push to slim down and shed finance assets following a surprise CEO change.
The portfolio includes about 20 investments in renewable energy and other U.S. power assets held by the energy financial services unit of GE Capital, the companies said Monday in a joint statement. Financial details of the transaction, including the purchase price, weren’t disclosed.