Wednesday 24 September 2014
 
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Waha enters $575 m hedging deal on AerCap stake

DUBAI, 19 days ago

Abu Dhabi's Waha Capital has entered into a $575 million hedging deal on half of its stake in AerCap Holdings, the Emirati investment company said on Wednesday.

Waha will use the money to repay debt and fund new investments, according to a company statement to Abu Dhabi's bourse.

AerCap Holdings, in which Waha was its largest shareholder, bought American International Group's aircraft leasing business in a $5.4 billion cash and share deal that was completed in May. This deal reduced Waha's stake in AerCap to 14.1 per cent from 26.3 per cent.

The hedging agreement locks in the value of half the shares Waha owns in AerCap at a minimum $42.39 each, up to a maximum $61.23.

AerCap's shares ended Tuesday at $49.17. - Reuters
 




Tags: Waha Capital | AerCap Holdings |

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