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AerCap Snaps Up Genesis Lease For $1.75B

Law360 (September 18, 2009, 6:07 PM EDT) -- Dutch aircraft leasing company AerCap Holdings NV is set to acquire Irish rival Genesis Lease Ltd. in a $1.75 billion deal that will result in the world's largest independent aircraft leasing firm with assets of about $8 billion.

Amsterdam-based AerCap announced Friday that the boards of both companies had signed off on an agreement under which AerCap and Genesis will merge in an all share-for-share transaction.

AerCap CEO Klaus Heinemann, who will lead the combined company along with AerCap Chief Financial Officer Keith Helming, said the...
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