📈 69% of S&P 500 stocks beating the index - a historic record! Pick the best ones with AI.See top stocks

EQT puts Nordic Aviation Capital up for sale

Published 2018-02-19, 10:46 a/m
EQT puts Nordic Aviation Capital up for sale
GS
-
DBKGn
-

By Anshuman Daga and Jacob Gronholt-Pedersen

SINGAPORE/COPENHAGEN, Feb 19 (Reuters) - Private equity firm EQT has put Denmark-based Nordic Aviation Capital (NAC), the world's largest regional aircraft lessor, up for sale just 2-1/2 years after buying a majority stake in the company, two sources familiar with the matter said.

Swedish private equity firm EQT acquired a 54 percent stake in NAC in August 2015. NAC's fleet of more than 350 aircraft is valued at $5.3 billion, according to the company's website.

The sources said Deutsche Bank DBKGn.DE and Goldman Sachs (NYSE:GS) GS.N were assisting EQT on the sale. The sources declined to be identified as they were not authorised to speak to the media.

An EQT spokeswoman declined to comment.

The $140-billion a year global aircraft financing industry has been flooded with new money in the last five years, especially from China. is likely to appeal to U.S. investors and Canadian pension funds, one financial source said.

Also, China has earmarked this sector as one it wants to expand into, which could make the company attractive to Chinese lessors, the source added.

NAC founder and chairman Martin Moller and Kirkbi Invest, a Danish investment company owned by the Kirk Kristiansen family, which also owns Lego Group, both hold minority stakes in the company.

It was unclear if the minority shareholders had intention to sell. A NAC spokeswoman said the company does not comment on market rumours. Kirkbi declined to comment.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.