ORIX Corporation (ORIX), through its wholly owned subsidiary ORIX Aviation Systems (ORIX Aviation), is to acquire a 30 per cent stake in Avolon from Bohai Capital (Bohai).
The Transaction is subject to customary closing conditions and Bohai shareholder approval. Bohai’s largest shareholder, HNA Group, has provided its commitment to the Transaction. The Transaction is expected to complete in the fourth quarter of 2018.
Dómhnal Slattery, Avolon CEO, says: “ORIX is a strong, investment grade institution with a proven track record in the leasing sector over multiple industry cycles. We are delighted to welcome ORIX as a shareholder alongside Bohai. This transaction builds on this team’s track record of partnering with leading global financial institutions as shareholders. We will benefit from ORIX’s experience and relationships as we continue to build Avolon’s financial strength and industry franchise.
“Our new shareholder structure and the associated enhancements to our governance framework will also accelerate our momentum towards an investment grade rating – a key objective for our business.”
