Aircraft lessor Aircastle to be bought in $2.4 bln deal (updated)
06/11/2019 11:48
(Adds details on the deal)
Nov 6 (Reuters) - Aircastle Ltd AYR.N said on Wednesday
Japan-based Marubeni Corp 8002.T and Mizuho Leasing Co Ltd
8425.T had offered to buy the aircraft lessor in a deal valued
at $2.4 billion.
The cash offer of $32 per share is at a premium of 16% over
Aircastle's Tuesday close. Marubeni has a 29% stake in Aircastle
as of Oct. 23 that is currently valued at about $600 million.
The company said in October it was exploring options
including a sale.
The deal, which is valued at $7.4 billion including debt, is
expected to close in the first half of 2020, Aircastle said.
urn:newsml:reuters.com:*:nPnc6ccWta
Citigroup Global Markets Inc will serve as financial adviser
to Aircastle.
(Reporting by Sanjana Shivdas in Bengaluru; Editing by Shinjini
Ganguli and Anil D'Silva)
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