Chinese Investment Groups End Talks With Avolon
Published on Oct 5 2014 9:02 AM in General Industry
China Investment Corp (CIC) and AVIC Captital Co. Ltd have ended talks with Avolon, the Dublin-based aircraft leasing group.
Avolon had hired advisors to explore options for a sale or stock market flotation. The Chinese companies were reportedly interested in buying Avolon for around €4 billion. AVIC, one of the main Chinese aircraft companies, completed due diligence but were not certain that a deal would be completed and this week confirmed that talks had ended.
Avolon is now expected to finalise plans for a flotation on the New York stock exchange, after filing intial regulatory documents during the summer.
Avolon, which manages nearly 230 aircraft, is headed by entrepreneur and investor Dómhnal Slattery who established the company in 2010. The company has recently ordered several new aircraft, including 15 Airbus aircrafts and six Boeing Dreamliners. Its customers include Ryanair and American Airlines.