Waha Capital Completes Acquisition of 20% Stake in AerCap
Waha Capital PJSC ("Waha", ADX: WAHA) announced that yesterday it completed the transaction with New York Stock Exchange-listed and Dutch-based AerCap Holdings N.V. ("AerCap", NYSE: AER), which was previously announced on October 25, 2010.
As part of this transaction, Waha has acquired approximately 29.8 million new shares in AerCap, which equates to a 20% stake. In exchange, Waha has transferred its 50% interest in the joint venture company AerVenture, a 40% interest in Waha’s own 16-aircraft portfolio and $105 million in cash, $97 million of which is cash freed up through the structure, mainly through additional leverage on the 16-aircraft portfolio.
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