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EU antitrust regulators to decide on AerCap's $30 billion GE deal by July 26

Published 06/21/2021, 08:44 AM
Updated 06/21/2021, 08:45 AM
© Reuters. FILE PHOTO: The logo of U.S. conglomerate General Electric is pictured at the site of the company's energy branch in Belfort, France, February 5, 2019. REUTERS/Vincent Kessler

© Reuters. FILE PHOTO: The logo of U.S. conglomerate General Electric is pictured at the site of the company's energy branch in Belfort, France, February 5, 2019. REUTERS/Vincent Kessler

BRUSSELS (Reuters) - EU antitrust regulators will decide by July 26 whether to clear a $30 billion bid by Ireland's AerCap to buy the aircraft leasing business of General Electric (NYSE:GE), a European Commission filing showed on Monday.

The world's two largest aircraft leasing companies are seeking to create a new financing giant which would be the largest buyer of jetliners built by planemakers Airbus and Boeing (NYSE:BA).

The deal will reshape a global air finance industry that has attracted a flood of capital in recent years as investors look for higher returns.

AerCap requested EU approval on Friday.

© Reuters. FILE PHOTO: The logo of U.S. conglomerate General Electric is pictured at the site of the company's energy branch in Belfort, France, February 5, 2019. REUTERS/Vincent Kessler

The EU competition enforcer can approve the deal with or without concessions or it can open a four-month investigation if it has serious concerns.

Analysts said the scale of the combined entity, controlling about three times the number of aircraft as its nearest competitor, Dublin-based Avolon, could force AerCap to offload aircraft to meet antitrust demands.

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