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Tue 17 Dec 2013 01:26 PM

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UAE's Waha in favour of AerCap's $5.4bn acquisition of US firm

UAE investor, and largest shareholder, to vote for deal with American International Group

UAE's Waha in favour of AerCap's $5.4bn acquisition of US firm
Photo for illustrative purpose only. (Getty Images)

Waha Capital, an Abu Dhabi-based investment firm, said on Tuesday it would vote in favour of AerCap Holdings' $5.4 billion acquisition of American International Group Inc's aircraft leasing unit.

AerCap will pay $3 billion plus stock for International Lease Finance Corp, in a deal which would see it take a 46 percent stake in the company and result in the insurer finally securing a sale of the business after four years of trying.

"We are supportive of this transaction which we expect to be value enhancing for AerCap's existing shareholders and indirectly for our own shareholders," said Salem Rashid Al Noaimi, CEO of Waha Capital, in an Abu Dhabi bourse filing.

Waha Capital is AerCap's largest shareholder with a 26.3 percent stake. Should the deal complete, Waha's holding will be reduced to about 14 percent, the statement said.

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