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News Oct 06, 2015

Shearman & Sterling Advises GE Capital on Sale of Aircraft Portfolio

Shearman & Sterling is advising General Electric Capital Corporation on its sale of a portfolio of US, Canadian, Mexican and Brazilian aircraft leases and related aircraft and aircraft loans to Global Jet Capital, Inc. for a purchase price of approximately $2.5 billion. The transaction is expected to close in stages over the next several months, subject to customary regulatory and other approvals.

GE (NYSE: GE) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the "GE Store," through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry.

Global Jet Capital is a financial services company providing financing solutions for the private aircraft market. The business is capitalized by world-class private investors with expertise in the global aviation industry: GSO Capital Partners, a Blackstone company, in partnership with Franklin Square Capital Partners, The Carlyle Group and AE Industrial Partners.

The Shearman & Sterling team includes partner John Marzulli (New York-Mergers & Acquisitions), counsel Sean Skiffington (Toronto-Mergers & Acquisitions), and associates Richard Fischetti and Andreas Piepers (both New York-Mergers & Acquisitions), along with partners William Yaro (New York-Finance), Ethan Harris (Washington, DC-Tax), Doreen Lilienfeld (New York-Compensation, Governance & ERISA), Douglas Bartner (New York-Financial Restructuring & Insolvency), Sean Finley (New York-Investment Funds), and Laura Friedrich (NY-Investment Funds); counsel Nathan Sawyer (New York-Mergers & Acquisitions); and associates Robert Britton (New York-Financial Restructuring & Insolvency), Tasha Matharu (New York-Compensation, Governance & ERISA) and Matt Wochok (Washington, DC-Tax).