Ireland-based aircraft leasing company Avolon has announced that ORIX Corporation, through its wholly owned subsidiary ORIX Aviation Systems, has completed the acquisition of a 30% stake in Avolon from Bohai Capital for USD2.2 billion, the company said.
The addition of ORIX, an investment grade institution, diversifies and strengthens the financial profile of Avolon´s shareholder base and facilitates positive credit rating momentum. Additionally, the new governance structure enhances protections for minority shareholder and debt investors.
Avolon´s financial and legal advisors for the Transaction were Morgan Stanley & Co. LLC and Weil, Gotshal & Manges LLP respectively.
ORIX Corporation (TSE: 8591) (NYSE: IX) is an opportunistic, diversified, innovation-driven global powerhouse with a proven track record of profitability.
ORIX Aviation was established in 1991 in Dublin, Ireland and is a 100% subsidiary of ORIX Corporation of Japan. ORIX Aviation owns and manages over 200 aircraft and leases them to more than 70 airlines located in over 30 countries.
Headquartered in Ireland, Avolon provides aircraft leasing and lease management services. Avolon is 70% owned by an indirect subsidiary of Bohai Capital Holding Co. Ltd., a Chinese public and 30% owned by ORIX Aviation Systems.