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AerCap to Acquire International Lease Finance Corporation from AIG for $3B in cash and 97.56M AerCap Shares

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AerCap Holdings (NYSE: AER) today announced that it has entered into a definitive agreement with American International Group (NYSE: AIG) under which AerCap will acquire 100% of the common stock of International Lease Finance Corporation ("ILFC"), a wholly-owned subsidiary of AIG. Under the terms of the agreement, AIG will receive $3.0 billion in cash and 97,560,976 AerCap shares. The transaction is expected to close in the second quarter of 2014. The cash portion of the consideration is expected to be funded through a combination of new debt financing and cash of the combined company. The combined company will retain the name AerCap, and ILFC will become a wholly-owned subsidiary of AerCap. In connection with the transaction, AIG will be entitled to nominate two directors for election to the Board of Directors of AerCap. Based on the closing stock price of AerCap's shares on Friday, December 13, 2013, the total consideration has a value of approximately $26 billion including the

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Posted-In: News Guidance Financing Asset Sales Management M&A Global

 

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