GE Cuts Down Its Stake In Aircraft Lessor AerCap

AerCap Holdings N.V. AER announced that a subsidiary of General Electric Company 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.
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