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Marubeni & Mizuho Leasing to Acquire Remaining Shares of Aircastle Limited

Source: 11/7/2019, Location: Middle East

Marubeni Corporation (Marubeni), in partnership with Mizuho Leasing Company (Mizuho Leasing), has entered into a definitive agreements to acquire all of the outstanding common shares of Aircastle Limited (hereinafter, “Aircastle”) (NYSE: AYR) that Marubeni does not currently own (the “Transaction”).

The Transaction is subject to Aircastle shareholder approval, customary closing conditions and required regulatory approvals and is expected to close in the first half of 2020. Under the terms of the Transaction, all Aircastle shareholders except Marubeni will receive US$32 in cash for each Aircastle common share they hold, implying a total firm value of approximately US$7.4bn.

In recent years, the global aircraft leasing market has grown strongly due to robust passenger growth and increasing demand from airline industry for aircraft operating lease. The market growth is expected to remain strong in coming decades as the number of aircrafts in operation is continuing to grow.

Since its initial investment in Aircastle in 2013, Marubeni has developed a strong working relationship with Aircastle as its largest shareholder, providing continuous support for Aircastle’s business growth including deployment of its employees to the Board of Directors and other managerial positions of Aircastle. Marubeni’s support of Aircastle’s business operations has contributed to company’s steady expansion of its asset portfolio and profit base during the period.

After consummation of the Transaction, Marubeni will continue to provide support to Aircastle as a strategic partner to reinforce Aircastle’s business platform further so as to take an advantage of anticipated strong market growth. Marubeni believes that the new ownership structure of Aircastle backed by two strategic partners, Marubeni and Mizuho Leasing, will enhance stability and credibility of the company, supporting its future growth.

Marubeni values the talented team Aircastle has built under Michael J. Inglese, and look forward to working with them to enhance the value of the platform. Aircraft leasing is one of the core businesses of Marubeni’s Finance and Leasing Business Division.

Marubeni will seek to expand and evolve its business portfolio in this area and will try to provide solutions for rapidlygrowing demand for air transportation across the globe that is essential for global economic growth in the future.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

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