AerCap (AER) to Sell AeroTurbine to AIG's ILFC in $228M Deal
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AerCap Holdings N.V. (NYSE: AER) reports entering into an agreement with AIG's (NYSE: AIG) International Lease Finance Corporation (ILFC) for the sale of its wholly-owned subsidiary AeroTurbine, Inc.
The purchase price for all of the outstanding shares of AeroTurbine is $228 million. AerCap will continue to guarantee until December 14, 2011 AeroTurbine's obligations under its $425 million revolving credit facility, of which approximately $298.6 million was drawn as of July 31, 2011.
Credit Agricole Securities (USA) Inc. and UBS Investment Bank acted as financial advisors and Milbank, Tweed, Hadley & McCloy LLP as legal advisor to AerCap.
The purchase price for all of the outstanding shares of AeroTurbine is $228 million. AerCap will continue to guarantee until December 14, 2011 AeroTurbine's obligations under its $425 million revolving credit facility, of which approximately $298.6 million was drawn as of July 31, 2011.
Credit Agricole Securities (USA) Inc. and UBS Investment Bank acted as financial advisors and Milbank, Tweed, Hadley & McCloy LLP as legal advisor to AerCap.
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