GE Completes Merger GE Capital Aviation Services Business With AerCap

(RTTNews) - GE (GE) announced the completion of the combination of its GE Capital Aviation Services business ("GECAS") with AerCap Holdings N.V.

As per the terms of the deal, GE received total consideration of more than $30 billion upon closing, including about $23 billion in net cash proceeds; 111.5 million ordinary shares equivalent to approximately 46 percent ownership of the combined company, with a market value of approximately $6.6 billion based on the closing share price of $59.04 on October 29, 2021; and $1 billion paid in AerCap senior notes.

In March 2021, Irish aircraft-leasing group AerCap Holdings announced that it had entered into a definitive agreement with General Electric (GE), under which AerCap would acquire 100% of GE Capital Aviation Services (GECAS), GE's aircraft-leasing business. The deal is reportedly valued at more than $30 billion.