Marubeni Takes Stake In Aircastle

Marubeni Corporation, one of Japan’s largest general trading companies, has taken a 15.25 per cent stake in the aircraft leasing company Aircastle for $209m. The transaction was announced on June 6, 2013 and closed on July 12, 2013 after having received regulatory approvals from the US and Germany. Marubeni has the right to elect two directors to Aircastle's board of directors. The first appointment will be made prior to August 14, 2013. Kaoru Iwasa, managing executive officer, chief operating officer, transportation machinery division, Marubeni Corporation, said: "We are very pleased to acquire a significant minority stake in Aircastle. We have concurred with Aircastle’s view on the market and strategy to grow, and above all we are confident that there is a good chemistry between the companies and we can achieve a long and constructive partnership with Aircastle. DVB Bank advised Marubeni on the transaction. Iwasa said: “DVB exercised a vital role in creating this epochal partnership and we do appreciate DVB’s efforts and contributions.”

TAGS: Airlines
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