- AerCap Holdings N.V. (NYSE:AER) announced that a subsidiary of General Electric Company (NYSE:GE) is offering 18 million shares of AerCap through an underwritten public offering.
- GE subsidiary GE Capital US Holdings, Inc. expects to grant the underwriters a 30-day option to purchase up to 2.7 million additional shares.
- AerCap will not receive any proceeds from the sale of the shares.
- AerCap has also agreed with GE Capital to repurchase $500 million of its shares at a price per ordinary share equal to the price per ordinary share to be paid by the underwriters. The aircraft lessor intends to fund the repurchase with cash on hand.
- According to Refinitiv data, General Electric currently holds a 45.3% stake in AerCap, reported Reuters.
- Price Action: GE shares closed lower by 0.77% at $86.39, and AER higher by 0.65% at $62 on Tuesday.
- Photo Via Company
Asia And European Market Rise; Dollar Index Stays Below 105 – Global Markets Today While US Slept
European markets and commodities showed mixed results on Monday, with the European STOXX 50, Germany's DAX, and France's CAC closing higher. Crude Oil WTI and Brent traded lower, while Natural Gas, Gold, Silver, and Copper saw gains.
