Abu Dhabi investment firm reports 'good return' from sale
Waha Capital, an Abu Dhabi-listed investment company, announced today in a statement that it has sold its stake in AerLift Leasing to a newly-established US-based aircraft leasing platform.
The company did not say how much did it sell its 60.7 per cent stake for, but its CEO noted that the investment firm made 'good return' for its shareholders from the sale.
AerLift Leasing was established in 2010, with Waha Capital owning a 60.7 per cent shareholding. The company owns a portfolio of 11 commercial aircraft operated by a number of international airlines. Goldman Sachs served as advisors to Waha Capital on this deal.
"The disposal of our stake in AerLift demonstrates the rapidly accelerating implementation of our strategy to focus on our core assets and become a leading regional investment management company. We have crystallised a good return to our shareholders through this sale, which adds to the capital base we are building to make future investments in areas of strong growth potential," said Salem Rashid Al Noaimi, CEO and Managing Director of Waha Capital.
© Emirates 24|7 2014
