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On
Friday, the full ownership of Singapore Aircraft Leasing Enterprise Private Limited (SALE)
was transferred to the Bank of China.
Bank of China’s offer to acquire all the issued shares in SALE was accepted unanimously by the four shareholders {Singapore Airlines
Limited (35.5%), WestLB AG (35.5%), Apfarge Investment Pte Ltd (an investment vehicle of GIC Special Investments Pte Ltd) (14.5%), and
Seletar Investments Pte. Ltd. (a wholly owned subsidiary of Temasek Holdings (Private) Limited) (14.5%)} following a competitive bid
process managed by Citigroup Global Markets.
The
Bank of China Group paid US$965 million in cash to acquire 100% of SALE.
US$2.28 billion of debt remains in place.
Since its establishment in 1993, SALE has grown to become the leading Asia-based aircraft leasing company. It has been profitable every
year since its inception.
SALE has worked with over 50 airlines worldwide, including airlines from the full service, low cost and charter markets. It presently owns
63 aircraft and manages 14 aircraft on behalf of third parties; in addition, SALE has firm orders for another 28 aircraft, and options and
rights to acquire an additional 20 aircraft.
See
other recent news regarding:
Airlines,
SALE
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