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

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.