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Dubai Aerospace may win bid for Singapore Airline unit SALE - report

15-Nov-2006

Singapore (XFNews-ASIA) - Dubai Aerospace Enterprise could win the bid to buy Singapore Airline Ltd's 35.5 pct owned associate Singapore Aircraft Leasing Enterprise (SALE), the Business Times reported, citing sources close to the deal.

SALE is estimated to be worth about 600 mln usd, although the final bidding price is believed to be above 1 bln, according to the report.

Other bidders for the company are Bank of China, Standard Chartered Bank and Japan's Mitsubishi Corp, the Business Times said.

Earlier, Hong Kong's South China Morning Post quoted Sean Lee, a spokesman for SALE, as saying that the company is in the process of receiving bids and that "there could be a transaction by the end of the first quarter next year."


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