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Waha buys 50% stake in AerVenture
22 June 2009
Waha Capital has acquired a 50% stake in AerVenture for $135 million, becoming joint venture partner with Aercap. The equity investment comes after LoadAir ended its founding partnership in AerVenture earlier this month following a failure to make an equity payment.
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[Waha]
[Waha Capital]
[Waha Leasing]
[AerCap]
[AerVenture]
[Mubadala]
[Abu Dhabi Investment Company]
Waha Capital has bought a 50% stake in AerVenture for $135 million, the company said yesterday.
Under the terms of the joint venture, Waha Capital and AerVenture’s parent company AerCap will together invest $270 million of equity in AerVenture, which has a $2.4 billion asset base.
The initiative to revitalise AerVenture comes after AerCap’s partner LoadAir failed to make an $80 million equity payment and subsequently ended its founding partnership in the leasing company earlier this month.
Waha said the new venture will significantly extend its footprint and presence in the global aircraft leasing sector.
New chief executive officer of Waha Capital Salem Rashid Al Noaimi said the stake in AerVenture will help Abu Dhabi achieve its diversification goals and highlighted some of...
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