Friday, June 14, 2024

AerCap’s stock falls in extended trading on GE plan to sell stock

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  • AerCap Holdings (NYSE:AER) on Monday fell 3% in extended trading after saying a unit of industrial conglomerate General Electric (NYSE:GE) is selling 32.4 million shares in the aircraft leasing company in an underwritten public offering.
  • The transaction is valued at about $2 billion based on the closing price of AerCap’s (AER) stock, Reuters reported, citing LSEG data. It a sale by GE (GE) of 18 million shares in March.
  • GE (GE) in March 2021 said planned to sell its interest in AerCap (AER), which bought the conglomerate’s aircraft leasing unit in a $30 billion deal.

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