GE to buy helicopter leasing company for $1.78B

General Electric Co.'s aircraft leasing unit announced it would buy Dublin-based helicopter leasing company Milestone Aviation Group for $1.78 billion.

According to Reuters, Milestone owns a fleet worth $2.8 billion and has placed orders worth $3 billion.

"The addition of Milestone will deepen our domain expertise in aviation and oil and gas, two critical GE industries," GE Capital Chief Executive Keith Sherin said in a statement on Monday.

Read more from Reuters.