Finance
StanChart in talks to sell aviation finance unit to AviLease – Bloomberg News
June 5 (Reuters) – AviLease, a jet lessor owned by Saudi Arabia’s Public Investment Fund (PIF), is said to be in advanced talks to buy Standard Chartered’s (STAN.L) aviation finance business in a deal which could be valued at 3.5 billion euros ($3.75 billion), Bloomberg News reported on Monday.
Standard Chartered and AviLease parent PIF both declined to comment on Reuters’ request.
The UK-headquartered bank in January had said it was considering a sale, among several options, of its Ireland-based aviation unit, which owns and manages more than 120 planes on lease to 30 airlines.
The deal would help AviLease, launched last year, boost its presence in key leasing markets in the Middle East and other parts of the world, the Bloomberg report added.
($1 = 0.9335 euros)
Reporting by Prerna Bedi and Shreyaa Narayanan in Bengaluru; Editing by Devika Syamnath and Shilpi Majumdar
Our Standards: The Thomson Reuters Trust Principles.