Bank of China eyeing RBS Aviation Capital
25 Jul 2011
The Bank of China has emerged as a leading contender to buy the aircraft-leasing business being sold by Royal Bank of Scotland (RBS), but may find itself in a run-off with buy-out firm Terra Firma and the leasing arm of General Electric Co, the Sunday Times reported without citing sources.
The report suggests that RBS has received about eight expressions of interest in the Dublin-based aircraft financing and leasing specialist.
Guy Hands, owner of Terra Firma, would be looking at combining it with Awas, a Dublin-based leasing firm owned by his investment fund since 2006.
RBS Aviation Capital is the world's fifth largest leasing company by fleet value according to consultants Ascend Ltd., and could potentially fetch roughly $8 billion, analysts say.
If the transaction goes through it will be one of the largest leasing companies put up for direct sale in recent times, industry officials said.
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