GE To Sell Corporate Aircraft Financing Portfolio To Global Jet Capital In $2.5 Billion Deal

General Electric Co. shares rose 3.7% in premarket trading Monday, after the company said it is selling its corporate aircraft financing portfolio to Global Jet Capital in a deal valued at $2.5 billion. The portfolio comprises loans and leases as well as more than 300 fixed-wing aircraft across the U.S., Canada, Mexico and Latin America. GE said the deal will bring total asset sales to about $97 billion in the year so far. Once completed, it will contribute about $300 million of capital to the company's overall target of about $35 billion of dividends expected to GE under its strategic plan. The deal is expected to close in the next several months. The announcement comes after activist shareholder Nelson Peltz's Trian Fund Management LP said it has built a stake of $2.5 billion in GE, a move expected to revive pressure on the company to revive its long-depressed stock price. GE shares have gained 0.8% in the year so far, while the Dow Jones Industrial Average has fallen 7.6%.