GE’s Aircraft Unit to Buy Dublin-Based Helicopter Leasing Business

General Electric’s aircraft leasing unit has announced that it would buy the Dublin-based helicopter leasing business, Milestone Aviation Group, for $1.78 billion.

The chief executive of GE Capital, Keith S. Sherin, said on October 13, “The addition of Milestone will deepen our domain expertise in aviation and oil and gas, two critical G.E. industries.”

The acquisition of Milestone is perfectly in line with the capital strategy of the GE, which focuses on industrial businesses like aviation, energy, oil and gas, while taking steps to shed off other assets including those related to consumer finance.

The helicopter leasing business will be headed by Richard T. Santulli.

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