Waha completes AerCap 20% buy

Waha Capital completed a 20 per cent stake acquisition in AerCap Holdings in exchange for an interest in leasing assets and a cash payment of $8 million, it said on Thursday.

 Waha finalised the deal in which it bought 29.8 million new shares in AerCap on Wednesday, it said in a bourse statement.

"In exchange, Waha has transferred its 50 per cent interest in ... AerVenture, a 40 per cent interest in Waha's own 16-aircraft portfolio and $105m in cash, $97m of which is cash freed up through the structure, mainly through additional leverage on the 16-aircraft portfolio," the statement said.

The transaction, valued at $380m, will make Waha one of the biggest shareholders in the Dutch aircraft leasing firm.

The Abu Dhabi-listed firm unveiled the deal in October.

Waha's main institutional shareholder is Mubadala Development Company, whose unit Mubadala Aerospace will start making Airbus parts at its new facility by the fourth quarter.