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OFFON

AERCAP HOLDINGS N.V.

(AER)
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Exclusive-AerCap to win unconditional EU okay for $30 billion GE deal - sources

07/22/2021 | 09:27am EDT
FILE PHOTO: The logo of U.S. conglomerate General Electric is pictured at the site of the company's energy branch in Belfort

BRUSSELS (Reuters) -Irish aircraft leasing company AerCap is set to secure unconditional EU antitrust approval for its $30 billion bid for General Electric's aircraft leasing business, three people familiar with the matter said.

The deal between the world's two largest aircraft leasing companies would create a new financing giant and the largest buyer of airliners built by Airbus and Boeing.

The deal will reshape a global air finance industry that has in recent years attracted a flood of capital from investors seeking higher returns.

Analysts said it could also set off more consolidation in the sector, hit by the coronavirus crisis alongside other industries.

The European Commission, which has set a July 26 deadline for its preliminary review of the deal, and AerCap declined to comment. The U.S. Department of Justice wrapped up its review of the deal last month.

The deal to buy GECAS, or GE Capital Aviation Services, includes about $24 billion in cash and $1 billion paid in AerCap notes or cash. It includes 111 million new shares and will give GE a stake of 46% in the AerCap-controlled company.

(Reporting by Foo Yun Chee, additional reporting by Tim Hepher in ParisEditing by Jason Neely and Mark Potter)

By Foo Yun Chee


ę Reuters 2021
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Analyst Recommendations on AERCAP HOLDINGS N.V.
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Financials (USD)
Sales 2021 4 539 M - -
Net income 2021 895 M - -
Net Debt 2021 25 956 M - -
P/E ratio 2021 8,41x
Yield 2021 -
Capitalization 7 488 M 7 488 M -
EV / Sales 2021 7,37x
EV / Sales 2022 7,17x
Nbr of Employees 377
Free-Float 52,9%
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Mean consensus BUY
Number of Analysts 9
Last Close Price 58,44 $
Average target price 73,33 $
Spread / Average Target 25,5%
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Managers and Directors
Aengus Kelly Chief Executive Officer & Executive Director
Peter Juhas Chief Financial Officer
Paul T. Dacier Non-Executive Chairman
Joseph Venuto Chief Technology Officer
Jorg Koletzki Chief Information Officer
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