AerCap to buy GE’s aircraft leasing unit in $30 billion deal
FILE PHOTO: Aengus Kelly, CEO of AerCap, speaks during a panel discussion at the 2015 International Air Transport Association (IATA) Annual General Meeting (AGM) and World Air Transport Summit in Miami Beach, Florida, June 8, 2015. REUTERS/Joe Skipper/File Photo
March 10, 2021
By Shreyasee Raj and Conor Humphries
(Reuters) – The world’s two largest aircraft leasing companies are combining to create a new financing giant after Ireland’s AerCap finalised a deal worth more than $30 billion to buy the leasing unit of General Electric.
The two companies, which tied the knot on Wednesday after days of speculation surrounding a takeover of GE’s leasing arm GECAS, together control more than 2,000 jets, dwarfing rivals.
Branson backs New York-listed SPAC aiming to raise $500m
(Getty Images)
No stranger to the Spac phenomenon taking equity markets by storm, Richard Branson is backing another New York-listed blank-cheque vehicle.
Virgin Group Acquisition Corp III is looking to raise as much as $500m through a public listing, according to a regulatory filing published on Tuesday.
Founded by Branson the company will be led by Josh Bayliss, chief executive of Virgin Group, and its CIO Evan Lovell.
The special acquisition company (SPAC) will sell 50m units priced at $10 per unit on the New York Stock Exchange. The Branson-backed company said it is looking for targets in one of Virgin’s core sectors, including travel and leisure, financial services and health and wellness among others.
(March 10): The world's two largest aircraft leasing companies are combining to create a new financing giant, after Ireland's AerCap finalised a deal worth more than US$30 billion to buy the leasing business of General Electric . The two companies, which tied the knot on Wednesday after days of speculation surrounding a takeover of GE's leasing arm GECAS, together control more than 2,000 jets, dwarfing rivals.
London Metal Exchange to take steps to improve electronic pricing during ring closure
With its iconic trading ring facing permanent closure, the London Metal Exchange is taking steps to improve the efficiency of its electronic systems.
The London Metal Exchange today said it would change its electronic closing price system to make it more efficient while its iconic trading ring remains shut.
The bourse said the move was separate to plans to consult on closing the ring as part of moves to modernise its trading system.
Plans to improve the market’s electronic trading system were in place long before January’s proposals to shut Europe’s last open-outcry trading floor on a permanent basis.
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