China Bohai leasing company will acquire the lessor Avolon, based in Ireland and has a fleet of 260 aircraft. The deal values Avolon 7.6 billion.
To compensate for the slowdown in the Chinese domestic market, Beijing is encouraging its companies to "go out" of borders to acquire foreign companies. Message received loud and clear by the Bohai leasing company, offering aircraft, ships, engineering equipment and other machines. Indeed, Bohai will acquire Avolon his counterpart, based in Ireland.
Bohai Leasing Co., a subsidiary of HNA Group, which operates including Hainan Airlines, will pay 31 dollars per share to shareholders of Avolon, listed in New York, a 31% premium to the closing price on July 13, before the announcement of the intention to purchase by Bohai, Avolon said in a statement Thursday. The offer price values Avolon 7.6 billion (€ 6.8 billion). It "includes debt of about five billion dollars, in addition to some 2.5 billion dollars disbursed to acquire all the shares," the website Avolon. The transaction will be finalized in the first quarter of 2016.
"Avolon has experienced remarkable growth over the last five years to become a major industrial franchise with a particular economic model, and the company is a strong complement to our existing investments in aircraft lessors of industry," assured in a statement the CEO of Bohai, Chris Jin who do not lack ambition _ "Our vision is to make each of our financial investment in transport world leaders," said he ajouté_ nor means.
It is indeed for him the second acquisition of the week. It has acquired office building in London, Canary Wharf, the European headquarters of Thomson Reuters. The amount of the acquisition was not specified, but the group said it was its first investment "major" in the British capital.
