Transaction Overview
Air Lease Corp., an aviation financing entity founded by industry veteran Steven Udvar-Hazy, has agreed to be acquired for $7.4 billion by a consortium led by Sumitomo Corp. This move marks a significant step in the ongoing consolidation within the aviation finance sector, which plays a crucial role in the procurement of aircraft.
Deal Details
As per a statement reported by Bloomberg Terminal on Tuesday, investors in the Los Angeles-based Air Lease will receive $65 per share in cash from the acquiring group. This consortium includes prominent players such as SMBC Aviation Capital, Apollo Global Management Inc., and Brookfield Asset Management.
The agreed purchase price reflects an 8% premium over Air Lease’s most recent closing price.
