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It would also mark the latest move by GE boss Larry Culp to offload businesses and reduce debt, after taking over the reins at the struggling conglomerate in 2018. However, if a deal goes ahead, its sheer size could attract attention from antitrust regulators as AerCap and Gecas are already each roughly twice as big in fleet terms as Avolon. The structure of any deal to acquire Gecas was not immediately clear but several industry sources predicted it would include a similar stock structure that saw lessor ILFC’s insurance owner AIG become a shareholder in the new AerCap. Vertical Research Partners analyst Rob Stallard described the venture that will result if AerCap and Gecas ink a deal as the “mother of all leasing companies”. ....
A transaction may be announced as soon as Monday, said one of the people, who both asked not to be named discussing the matter. The deal is expected to have a value of more than $30 billion, said the Wall Street Journal, which reported the talks earlier Sunday. Between them, GE Capital Aviation Services, or Gecas, and AerCap have almost 3,000 aircraft owned, managed or on order. A combination would speed GE Chief Executive Officer Larry Culp’s push to streamline the U.S. industrial icon after an epic corporate meltdown. While terms of the potential agreement with AerCap are unclear, a sale of Gecas could garner GE about $25 billion, Bloomberg Intelligence said in a report in 2019. Last year, GE completed the sale of its bio-pharmaceutical business to Culp’s former employer, Danaher Corp., for $21.4 billion. ....
The Straits Times The deal is expected to have a value of more than $40.4 billion.PHOTO: REUTERS PublishedMar 8, 2021, 3:35 pm SGT https://str.sg/Jjib They can read the article in full after signing up for a free account. Share link: Or share via: Sign up or log in to read this article in full Sign up All done! This article is now fully available for you Read now Get unlimited access to all stories at $0.99/month for the first 3 months. Get unlimited access to all stories at $0.99/month for the first 3 months. including the ST News Tablet worth $398. Let s go! ....
GE Nears Deal With AerCap to Create Behemoth Aircraft Lessor msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Government bailouts of airlines might stall post-pandemic consolidation in the sector, the CEO of the International Air Transport Association (IATA), Alexandre de Juniac has warned. There’s an expectation amongst some airline bosses such as Ryanair’s Michael O’Leary that the Covid crisis that has bludgeoned the sector will lead to acquisition and other opportunities. Mr de Juniac told the virtual Airline Economics Growth Frontiers Dublin conference yesterday that about 50 airlines around the world have gone bust since the pandemic began last year. “Government presence in many airline shareholdings may stall or slow down consolidation because governments, having injected public funds in airlines will be reluctant to sell it or sell part of it to new partners,” he said. ....