The aircraft leasing company "AviLease", fully owned bypif, announced the conclusion of an agreement for the acquisition of the standard chartered aircraft operating and leasing platform, the agreement includes the Dublin-based company Pembroke.

The acquisition will bring together two strategically integrated companies, which will result in diversification of the company's scope and achieve global development and growth, as well as provide an opportunity to benefit from the expertise and experience of Standard Chartered's best-in-class team and available operational capabilities.

Within the framework of this agreement, worth up to 3.6 billion dollars, the aircraft leasing company acquires a diversified portfolio consisting of 100 narrow-body aircraft, and at the same time it will become the provider of leasing services for about 22 other aircraft.

This step will strengthen the position of the company, a platform and an integrated entity that owns and manages a fleet of 167 of the latest and most efficient aircraft

It consists of 145 aircraft valued at about 6 billion dollars, and 22 aircraft operated by the company with an estimated value of about 800 million dollars, leased to about 46 airlines globally.

Within the framework of this agreement, the aircraft leasing company "AviLease" succeeded in securing competitive temporary financing of USD 2.1 billion from four international banks: BNP Paribas, Citibank, HSBC Bank Middle East, and MUFG Bank.

Fahad Al Saif, Chairman of the board of Directors of the aircraft leasing company, said:"the aircraft financing business of Standard Chartered Bank is distinguished as a leading platform at the sector level, where a team of highly qualified and experienced professionals and specialists has gathered with a distinguished professional record and reputation.the acquisition agreement contributes to strengthening the company's position and enabling the economic system and the aviation sector environment in the Kingdom and is an auxiliary element in achieving one of the goals of Vision 2030, represented by the goals of diversifying the economy in the kingdom, by providing additional high-value job opportunities for Saudi citizens.

For his part, the CEO of the aircraft leasing company, Edward O. Brian, stressed that this Agreement and the acquisition process represent a high importance, and a new and prominent step in the company's career, pointing out that the agreement includes the purchase of a group of high-quality narrow-body aircraft leased to first-class airlines globally, and the acquisition process will contribute to accelerating the growth, expanding and diversifying the company's fleet of leased aircraft, which is a clear indication of the company's ability to implement its own and ambitious investment strategy.

O'brien added: "the agreement will enable us to unite efforts and take advantage of the high-quality capabilities of Standard Chartered's aircraft finance business platform, and will enhance the achievement of our ambitions to become one of the top ten aircraft leasing companies in the world.

Simon Cooper, CEO of corporate banking and commercial institutions in Europe and the American continent of Standard Chartered, expressed his wishes to the aircraft leasing company "AviLease" success in its strategy of continuing to work and devote efforts to business development in order to promote continuous growth and achieve its ambitions and to be an effective company and a prominent global partner in the aircraft leasing sector, thanking the employees of the standard chartered aircraft operating and leasing business platform for their efforts and firm commitment to building and establishing an outstanding business over more than 15 years in the success of this the deal.

The aircraft leasing company " AviLease "will complete the work and procedures to complete the agreement in full in the fourth quarter of 2023.Citibank will also assume the role of financial advisor to the aircraft leasing company during the stages of the agreement, while Allen & Overy and Clifford Chance took responsibility for legal consulting, while KPMG and PwC acted as tax advisor. The financial services institution "JPMorgan" assumed the role of financial adviser to the company.