NautaDutilh advises long-standing client AerCap Holdings N.V., ("AerCap"), on a transformative transaction in which it will acquire 100% of the common stock of International Lease Finance Corporation ("ILFC"), a wholly-owned subsidiary of American International Group ("AIG").
Under the agreement, AIG will receive $3.0 billion in cash, and 97,560,976 AerCap shares and AerCap will assume outstanding ILFC net debt of USD 21 billion. Upon closing of the transaction, AIG will own approximately 46% of the combined company, while the existing AerCap shareholders will own approximately 54% of the combined company.
AerCap's CEO Aengus Kelly commented: “AerCap's acquisition of ILFC will create the leading global franchise in the aircraft leasing industry. The combination presents a unique strategic opportunity to bring together the outstanding and experienced personnel from both companies, along with a diverse portfolio of modern aircraft and customers, coupled with an attractive order book comprised of state-of-the-art aircraft. These combined resources along with a strong liquidity profile provide the opportunity to drive high levels of stable long term profitability and cash flows for the benefit of all our stakeholders."
NautaDutilh co-counseled with Cravath, Swaine, & Moore LLP on this matter.
The team of NautaDutilh consisted of Jaap Jan Trommel, Ruud Smits, Wijnand Bossenbroek, Walter Schellekens, Homme ten Have, Christiaan de Brauw, Pieter van Drooge, Robrecht Timmermans, Sjors Panis, Noura ten Kate, Lisa Schoenmakers and Paul Storm.
More information regarding the transaction is to be found in AerCap's press release.