GE to sell $1.6B in AerCap shares as it begins to wind down stake (NYSE:GE)

AerCap Holdings (NYSE:AER) said Tuesday that General Electric (NYSE:GE) is selling 18M common shares of the company through a secondary public offering, with an underwriters option to purchase up to another 2.7M common shares.

GE (GE) will offer the shares valued at ~$1.1B, as part of a plan to wind down its nearly $7B stake in AerCap (AER), which also agreed to repurchase another $500M worth of its shares from GE.

GE (GE) owns a ~45% stake in AerCap (AER) following the 2021 deal that combined GE’s leasing business with the aircraft leasing company.