Investing
GE to sell stake in aircraft leasing provider AerCap
© Reuters. A woman stands in front of a General Electric (GE) sign during World Artificial Intelligence Conference, following the coronavirus disease (COVID-19) outbreak, in Shanghai, China, September 1, 2022. REUTERS/Aly Song
(Reuters) – AerCap Holdings NV said on Monday a unit of General Electric (NYSE:) Co will sell 32.4 million shares in the aircraft leasing giant through an underwritten public offering.
The transaction will be worth $2 billion based on AerCap’s closing price, according to LSEG data, and follows a sale by GE of 18 million shares in March. AerCap’s stock fell about 3% in extended trading on Monday.
GE said in March 2021 it will “over time” sell its stake – 33.6% as per latest LSEG data – after AerCap bought the conglomerate’s aircraft leasing unit in a $30 billion deal.
AerCap also agreed on Monday to repurchase 12.2 million shares, worth $750 million. The Dublin-based company intends to fund the buyback with cash on hand.
GE Capital US Holdings Inc expects to grant the underwriters a 30-day option to purchase up to 4.9 million additional ordinary shares.
Goldman Sachs, Citigroup (NYSE:), Barclays, BofA Securities and J.P. Morgan are joint bookrunning managers for the secondary offering.
Read the full article here
The Future of Farming is Here
I’m Living Through the California Wildfires — Here’s How Every Business Can Prepare For a Natural Disaster
Achieve Your Goals Faster With This Meditation App, Now 50% Off
Train for a New Tech Career in 2025 With This $25 Course Bundle
TikTok restores service, thanks Trump By Reuters
Why the Best CEOs Think Like Anthropologists
LA Rental Prices Skyrocketing Despite Price Gouging Laws
How to Craft Marketing Campaigns That Reach Multiple Generations
Earn More in 2025: Top 10 High-Yield Savings Accounts Revealed
What to Do If TikTok is Banned — How to Protect Your Brand
Debt ceiling debate and its effect on the U.S. dollar
Debt ceiling default: Still no deal between parties
Stovall: If the U.S. defaults on its debt, all S&P 500 sectors will likely fall
What China's weaker-than-expected economy could mean for U.S. markets
A ‘Big Short’ investor sees financial disaster brewing in housing markets — again
-
Side Hustles3 days agoWhy the Best CEOs Think Like Anthropologists
-
Side Hustles6 days agoLA Rental Prices Skyrocketing Despite Price Gouging Laws
-
Side Hustles6 days agoHow to Craft Marketing Campaigns That Reach Multiple Generations
-
Make Money4 days agoEarn More in 2025: Top 10 High-Yield Savings Accounts Revealed
-
Side Hustles4 days agoWhat to Do If TikTok is Banned — How to Protect Your Brand
-
Passive Income4 days agoHow Pets Can Promote Better Health and Well-Being in the Workplace
-
Make Money5 days agoBuild Your Future: 5 Simple Steps to Financial Stability
-
Side Hustles4 days ago10 Roles That Are Surprisingly Well-Suited for Outsourcing