AerCap Holdings N.V. acquired International Lease Finance Corporation (ILFC) for $2.4 billion in cash and 97,560,976 newly issued AerCap common shares; AIG received an approximately 46% ownership stake in AerCap, a transaction completed in May 2014, structured as Business combination financed with a combination of cash and stock: $2.4 billion in cash and 97,560,976 newly issued AerCap common shares.
International Lease Finance Corporation (ILFC) operates in Aircraft leasing. On May 14, 2014, AerCap acquired, through a wholly-owned subsidiary, 100% of the common stock of International Lease Finance Corporation (ILFC) from American International Group (AIG). Consideration consisted of $2.4 billion in cash and 97,560,976 newly issued AerCap common shares, leaving AIG with an approximately 46% ownership stake in AerCap. The transaction transferred substantially all of ILFC's assets to AerCap Trust and roughly tripled AerCap's fleet, creating one of the world's largest independent aircraft leasing platforms with approximately $45 billion of assets and about 1,300 aircraft.
The ILFC acquisition was, together with the later GECAS transaction, one of the two largest transactions in the history of aviation leasing per AerCap's 20-F, transforming AerCap from a mid-sized lessor into a global-scale platform and demonstrating its strategy of acquiring and integrating large fleets from financial-sponsor sellers using stock as a major component of consideration.
Advisory firms were not disclosed for this transaction.