HNA Group, China's fourth-largest airline group, has emerged as a front-runner to purchase General Electric Co's (GE.N) co-owned container leasing business GE SeaCo, the Financial Times reported on Tuesday. The newspaper, citing people familiar with the matter, reported that HNA was now up against private equity group Kelso & Co in its bid to buy GE SeaCo, which could fetch $2.5 billion to $3 billion including debt. The FT also said that while one person following the process suggested that HNA was now the leading bidder for GE SeaCo, others cautioned that GE was still reviewing its options and that no announcement was imminent. GE and HNA were not immediately available for comment.
General Electric Company (GE) is a technology and financial services corporation. Shares of GE traded higher by 18.66% or $0.8644/share to $505544992.00. In the past year, the shares have traded as low as $1.20 and as high as $13.75. On average, 1101869875 shares of GE exchange hands on a given day and today's volume is recorded at 53213600.
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