GE acquires corporate aviation assets

GE Commercial Equipment Financing has agreed to acquire a portfolio of $448 million of corporate and general aviation financing contracts from debis Financial Services.

GE Commercial Equipment Financing (CEF) has agreed to acquire a portfolio of $448 million of corporate and general aviation financing contracts from debis Financial Services, a wholly-owned subsidiary of Daimler Chrysler Services.

According to GE, the assets will be integrated into CEF’s existing Corporate Aviation Group, an industry leader in the leasing and loan financing of corporate aircraft and helicopters worldwide.

Transaction terms were not disclosed. The agreement is subject to customary regulatory review and approval and is expected to close over the next 12 months.