By Jo Anne Bladd
Abu Dhabi investment company acquired 29.8 million shares in global aircraft leasing firm
Waha Capital, the Abu Dhabi investment company, said on Thursday it has completed a deal to take a 20 percent stake in global aircraft leasing firm AerCap Holdings, in a deal valued at $380m.
Waha Capital has transferred its 50 percent share of partnership company AerVenture in exchange for the stake. The company has also paid $105m in cash and transferred a 40 percent share of 16 aircraft it owns.
Waha has acquired approximately 29.8 million new shares in AerCap, which equates to a 20 percent stake.
Unlike several other state-linked investment firms based in the Emirati capital, Waha sells shares on the Abu Dhabi stock exchange. AerCap is listed on the New York Stock Exchange.
AerCap has previously said it plans to open a regional hub in Abu Dhabi.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.