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GE Sinks as $30 Billion Sale of Jet Lessor Fails to Impress

  • Culp says AerCap deal will simplify company and reduce risk
  • Transaction marks dismantling of once-mighty GE Capital unit
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Sale of Jet-Leasing Unit Makes GE Stronger, CEO Culp Says
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General Electric Co. tumbled as investors reacted coolly to a much-anticipated $30 billion deal to sell its jet-leasing business to rival AerCap Holdings NV.

The deal creates an aircraft-finance giant to be partly owned by GE and streamlines the manufacturer’s business model, but the announcement wasn’t accompanied by an upward revision in the company’s financial outlook that some on Wall Street had hoped to see.