Dutch aircraft leaser AerCap Holdings NV said Thursday it completed the takeover of its Irish rival Genesis Lease Ltd. in a share-swap deal valued at $1.76 billion, The Associated Press reports.
The buyout, first announced in September, leaves Genesis shareholders owning about 29 percent of the combined company.
The new company, based in the Netherlands, has total assets of more than $8 billion, with 345 commercial aircraft owned, making it the world’s biggest independent leaser of passenger and cargo aircraft. AerCap also has $3.6 billion of lease assets under purchase contract.
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