Shareholders in lessor Nordic Aviation Capital have approved the company’s proposed acquisition by Dubai Aerospace Enterprise.
The company values the transaction at more than $2 billion – inclusive of outstanding debt.
Nordic Aviation Capital says the shareholder vote was 85% in favour of the agreement, under which DAE will take over its entire share capital.
It states that it expects the deal to close in the first half of this year, subject to regulatory clearance.
“Our significant reshaping of the fleet plus substantial reduction of debt markedly enhanced our acquisition prospects,” says Nordic Aviation Capital chief Norman Liu.
The lessor’s fleet comprised around 233 owned and committed aircraft at the end of last year, and its base features some 60 customers.
DAE Capital has a portfolio of 506 aircraft – featuring 223 Boeing models and 216 Airbus jets, plus 67 ATRs – of which 329 are owned, 110 managed and 67 committed.
