Bloomberg reported that in the wake of the sale of its aircraft leasing business to Avolon Holdings, CIT Group rose 3.5% in New York trading.
Bloomberg noted that, before the sale, CIT’s stock had fallen 8.3% in 2016.
According to Bloomberg, the $10 billion price paid by Avolon represented roughly 23% of CIT’s assets.
Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!