unit in talks to buy Milestone Aviation: WSJ
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[October 11, 2014]
(Reuters) - General Electric Co's
<GE.N> finance arm is in talks to buy Milestone Aviation Group Ltd, as
the U.S. conglomerate looks to expand its aircraft-leasing operation
into helicopters, The Wall Street Journal reported, citing people
familiar with the matter.
The purchase price for Milestone could be more than $2.5 billion,
according to some of the people, the Journal reported.
Milestone, co-founded by NetJets Inc founder Richard Santulli, has
announced plans for an initial public offering of stock, according
to the report.
Buying Milestone, the world's largest helicopter-leasing company by
fleet value, would broaden GE Capital Aviation Services' portfolio
beyond the competitive plane-leasing business, as it currently owns
no helicopters, the Journal said.
"As a matter of policy, we don't comment on market rumors or
speculation," a spokeswoman for Milestone Aviation said.
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Officials at General Electric were not immediately available for
(Reporting By Manya Venkatesh in Bangalore; Editing by Simon
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