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GE Completes $30 Billion Combination of GECAS With AerCap
- Client News
- November 1, 2021
Paul, Weiss advised General Electric Co. in the combination of its jet leasing unit, GE Capital Aviation Services (GECAS), with Dublin-based AerCap Holdings NV in a cash-and-stock transaction valued at more than $30 billion. The combined company is one of aviation leasing’s leading franchises, bringing together complementary portfolios across aircraft, engines and helicopters.
Under the terms of the agreement, GE received approximately $23 billion in cash, 111.5 million ordinary shares of the combined company valued at $6 billion—representing an approximately 46 percent stake in the combined company—and $1 billion in AerCap senior notes.
The Paul, Weiss team included corporate partners Scott Barshay, Steven Williams, John Kennedy and Caith Kushner; executive compensation partner Jean McLoughlin and counsel Meghan Fox; tax partners Scott Sontag and Jeffrey Samuels, and counsel Alyssa Wolpin; intellectual property partner Jonathan Ashtor and counsel Michael Kurzer; real estate partner Salvatore Gogliormella; international trade counsel Richard Elliott; litigation counsel Steven Herzog, Donna Ioffredo and Rachel Fiorill; environmental counsel William O’Brien; and antitrust counsel Yuni Sobel.