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AerCap Holdings N.V. to acquire International Lease Finance Corp from American International Group Inc


Monday, 16 Dec 2013 07:00pm EST 

Al Waha Capital PJSC:Says that it has agreed to vote in favor of its 26.3% stake owned subsidiary, AerCap Holdings N.V., proposed acquisition of International Lease Finance Corporation (ILFC) from American International Group (AIG).Says under the deal, AerCap will acquire 100 percent of the common stock of International Lease Finance Corp, and AIG will receive $3.0 billion in cash and 97.6 million newly issued AerCap shares.Says based on the closing share price of AerCap’s ordinary shares on Friday Dec. 13, the total consideration has a value of approximately $26 billion including the assumption of the outstanding ILFC net debt of $21 billion.Says upon closing of the transaction, AIG will own approximately 46 percent of the combined company, while the existing AerCap shareholders will own approximately 54 percent of the combined company.Says Al Waha Capital PJSC, which currently has a 26.3 percent stake in AerCap, will see its shareholding reduced to approximately 14 percent.Says the transaction is expected to close in the second quarter of 2014, subject to approval by AerCap shareholders, receipt of necessary regulatory approvals and satisfaction of other customary closing conditions. 

Company Quote

55.78
0.77 +1.40%
19 Dec 2014