Abbey National has bought Amsterdam-based ING Lease International Equipment Management (IEM) from ING Lease Holding for $38 million in cash. IEM will retain its trading name, but will be managed as part of Abbey National's Wholesale Bank. IEM owns a portfolio of eight aircraft. RCG Holdings has offered in excess of $260 million to acquire UK aerospace precision producer Doncasters. Last week Doncasters sold the Open-Die Forging Division to Independent Forgings & Alloys. KLM Royal Dutch Airlines is to sell its Cargo Service Centre (CSC) to D.Logistics. The CSC handles more than 1.5 million tonnes of cargo annually. British Airways' proposed offer of £78 million ($109 million) for the acquisition of BRAL (British Regional Air Lines Group) has been cleared by the UK Government. The Royal Bank of Scotland is to buy International Aviation Management (CI) and its Irish subsidiary IAMG Europe, for an undisclosed sum. IAMG will become Lombard Aviation Capital. In a deal worth £4 million, Natwest Development Capital has bought Heathrow-based Select Prospect. Select offers revenue accounting and recovery outsourcing services, toairlines. UK regional Gill Airways is to regain its financial independence after a £4 million buyout by chief executive Malcolm Naylor. EADS Germany and Thales Nederland have established a joint venture (ET Marinesysteme) based in Wilhelmshaven, Germany to develop naval combat systems. Singapore Changi Airport Enterprise (SCAE), a subsidiary of the Civil Aviation Authority of Singapore, has taken a 50% stake in airport development and investment company Alterra Partners. Bechtel Enterprises Holdings keeps hold of the remaining 50% stake in the company.
Source: Flight International
