China’s HNA in bid for GE container leasing company

HNA Group, China's fourth-largest airline group, has emerged as a front-runner to buy General Electric Co's co-owned container leasing business GE SeaCo, the Financial Times reported.

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. (Reuters)