Mergers & Acquisitions
- Learn More
Our M&A lawyers are among the most experienced and effective in the world. We represent many of the world's largest publicly traded and privately held companies, as well as leading private equity firms, hedge funds, financial advisors and other financial institutions and investors on their most important merger, acquisitions and takeover transactions.
GE to Merge Aircraft Leasing Unit With AerCap in Deal Valued at More Than $30 Billion
- Client News
- March 10, 2021
Paul, Weiss is advising 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 will be one of aviation leasing’s leading franchises, bringing together complementary portfolios across aircraft, engines and helicopters.
Under the terms of the agreement, GE will receive approximately $24 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 notes and/or cash upon closing. GE will transfer $34 billion of GECAS’ net assets to AerCap, including its engine leasing and Milestone helicopter leasing businesses. The transaction is expected to close in 9 to 12 months, pending shareholder and regulatory approvals and customary closing conditions.
The Paul, Weiss team includes corporate partners Scott Barshay, Steven Williams, John Kennedy and Caith Kushner; tax partners Scott Sontag and Jeffrey Samuels and counsel Alyssa Wolpin; executive compensation partner Jean McLoughlin and counsel Meghan Fox; 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; and environmental counsel William O’Brien.