Eastman Kodak Co.'s shares soared 13% in premarket trade Monday, after the company said it has reached a deal to sell its Flexographic Packaging division to Montagu Private Equity LLP for $390 million in proceeds. The business will be run as a new standalone company on closing and will develop, manufacture and sell flexographic product, including its flagship Kodak Flexcel NX System to the packing print market. Flexography is a printing process that uses a flexible relief plate, similar to a letterpress that can be used on most materials.