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Abu Dhabi’s Waha Capital gains Dhs40m via its divestiture in AerCap Holdings

Abu Dhabi’s Waha Capital gains Dhs40m via its divestiture in AerCap Holdings

The company has been reducing its shareholding in recent years to re-allocate capital in alternate investments

Abu Dhabi-based investment firm Waha Capital, has recorded a net gain of Dhs40m via the divestment of its residual stake in New York-listed AerCap Holdings NV, it announced on Wednesday, December 4.

Waha Capital has been a shareholder in AerCap Holdings since 2010. The company has been reducing its shareholding in recent years to re-allocate that capital in diverse investments for greater shareholder value, the statement said.

The company’s portfolio investment covers energy, financial services, healthcare, infrastructure and other high-potential sectors through its private investments business, the statement said.

Waha Capital’s asset management segment extends credit and equity funds to third-party investors.

Waha Capital reported a net loss of Dh182.2m ($49.33m) for the first half of 2019, compared to net profit of Dhs239.7m in H1 2018. Total income from the asset management unit increased 64 per cent year-on-year to Dh395m, while the total general and admin expenses fell by 18 per cent year-on-year to Dhs107.2m.

Also read: Abu Dhabi’s Waha Hedges 12m Aercap Shares, Sells Further 3m

Earlier this year, Waha Capital and Abu Dhabi investment firms Gulf Capital, held exploratory discussions regarding a merger, according to sources.

Read more: Abu Dhabi’s Gulf Capital, Waha Capital have held early merger talks

AerCap Holdings is the owner of commercial aircrafts, with 1,360 aircraft owned, managed or on order, and $43.5bn of total assets as of September 30, 2019, according to its website.

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