GE sells renewables investments to alternatives manager for USD 1 billion

American industry giant General Electric is selling its renewable energy portfolio for USD 1 billion to Apollo Global Management.

Photo: General Electric Company

US industrial group General Electric (GE) has sold a portfolio worth approximately USD 1 billion, including debt investments in renewable energy, to alternative assets firm Apollo Global Management. It marks the first large, rapidly-forged deal made under new CEO H. Lawrence Culp who stepped into the top role at GE a few days ago.

He replaced John Flannery, who had quit having spent only a year in the job.

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