Commission Decision No. 02-M-001/2020:
In the Matter of the Proposed Acquisition by MM Air Limited of Shares in Aircastle Limited

 

ABSTRACT:

Marubeni Corporation (Marubeni), in partnership with Mizuho Leasing Company (Mizuho Leasing), has entered into a definitive agreements to acquire all of the outstanding common shares of Aircastle Limited (Aircastle – NYSE: AYR) that Marubeni does not currently own.

Under the terms of the Transaction, all Aircastle shareholders except Marubeni will receive US$32 in cash for each Aircastle common share they hold, implying a total firm value. To acquire Aircastle’s stock, Marubeni and Mizuho Leasing jointly formed MM Air Limited for purposes of a merger.

Aircastle acquires leases and sells commercial jet aircraft to airlines globally. As of September 30, 2019, Aircastle owned and managed on behalf of its joint ventures 277 aircraft leased to 87 customers located in 48 countries.

Marubeni is a Japanese integrated trading and investment business conglomerate that handles products and provides services in a broad range of business activities across wide- ranging fields, including food, consumer products, chemicals, energy, power plants, transportation and industrial machinery.

On the other hand, Mizuho Leasing provides financing for equipment and other assets through leasing and installment sales.

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