AerCap’s Acquisition of GE Capital Aviation Services

On March 10, 2021, AerCap Holdings N.V. (“AerCap”), a global leader in aircraft leasing, announced that it has entered into a definitive agreement with General Electric (“GE”) under which AerCap will acquire 100% of GE Capital Aviation Services, a GE business. Under the terms of the agreement, which has been unanimously approved by the boards of directors of AerCap and GE, GE will receive 111.5 million newly issued AerCap shares, $24 billion of cash and $1 billion of AerCap notes and/or cash. Cravath is representing AerCap in connection with the transaction.

The Cravath team is led by partners Mark I. Greene and G.J. Ligelis Jr. and includes associates Douglas C. Dolan, Matthew L. Ploszek, Ryan J. Patrone, Samuel A. Blaustein and Michael A. Naclerio on M&A matters; partners Craig F. Arcella and Stephen M. Kessing, senior attorney Kimberly A. Grousset and associates Caroline H. Gieryn and Jarrod L. Hall on financing matters; partners Stephen L. Gordon and Christopher K. Fargo, senior attorney Andrew Carlon and associate Rory M. Minnis on tax matters; partners Christine A. Varney and Margaret T. Segall, practice area attorney Nicole M. Peles and associate Kolja I. Ortmann on regulatory matters; partner Matthew J. Bobby, practice area attorney Sarah W. Colangelo and associates Dixing Tang and Tiffany B. Wong on executive compensation and benefits matters; partner David J. Kappos and associate Daniel J. Etcovitch on intellectual property matters; senior attorney Annmarie M. Terraciano on environmental matters; and practice area attorney Brian M. Budnick on real estate matters. Paul A. Bryant, Armin Hoss and Caroline B. Shinkle also worked on M&A matters; Luke A. Martin also worked on financing matters; Malikah I. Williams also worked on regulatory matters; and Pedraam Mirzanian also worked on intellectual property matters.