General Electric Co. said Monday it is offloading a portfolio of energy investments to Apollo Global Management LLC, as the troubled conglomerate continues to sell off pieces of its business it now views as ancillary.
A unit of GE Capital and private-equity firm Apollo didn’t disclose the financial terms of the deal, other than to say the approximately $1 billion portfolio includes equity investments in renewable energy, natural-gas fired power and midstream energy infrastructure assets, mostly in the U.S.
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