Waha Capital is to acquire about 29.8 million shares in AerCap in exchange for $105m, Waha’s 50% interest in AerVenture and the transfer of 40% interest in Waha’s 16-aircraft portfolio.
The total consideration for the shares in AerCap is about $380m.
AerCap will provide management services for Waha’s aircraft portfolio in return for servicing fees, and will open a representative office in Abu Dhabi.
After the share issuance, Waha will own 20% of AerCap and be entitled to nominate two candidates to the Board of Directors of AerCap Holdings NV.
Waha’s 16-aircraft portfolio consists of Airbus A330 and Boeing 777 wide-body aircraft, Airbus A320 and A321, Boeing 737 and Bombardier regional jet aircraft.
The completion of the transaction is due to take place in mid-November 2010.
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