International law firm Clifford Chance has advised a consortium of banks led by Citibank, BNP Paribas, HSBC Bank Middle East, and MUFG Bank in connection to a USD 2.1 billion acquisition financing for AviLease.
The acquisition involved the purchase of Standard Chartered’s aircraft leasing business for a total consideration of USD 3.6 billion. This strategic move signifies Standard Chartered’s exit from the aviation leasing and financing sector.
Upon the successful completion of this acquisition, AviLease, a Riyadh-based company backed by Saudi Arabia’s PIF sovereign wealth fund, will assume ownership and management of an extensive fleet consisting of more than 120 aircraft.
The Clifford Chance team team was led by partner Graham Brewer (pictured) with support from senior associates Bola Coker, Paul Langley and associate Tanvi Pahwa, working alongside our KSA office AS&H Clifford Chance and New York office.