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China Everbright purchases 40% stake in China Aircraft Leasing Company

8-Jul-2011 11:02 AM

China Everbright, a Chinese state-owned investment company, has purchased (05-Jul-2011) a 40% stake in Hong Kong-based lessor China Aircraft Leasing Company (CALC). China Everbright purchased the shares in two tranches on 30-Jun-2011, through its subsidiary, China Everbright Aerospace Holdings. CALC says the new shareholder will help the lessor embark on an aggressive growth strategy to increase its fleet significantly in the next few years. The lessor says it is also in the process of bringing in another Chinese state-owned enterprise as shareholder, which it expects to complete in 3Q2011. China Everbright was listed on the Hong Kong Stock Exchange in 1997 and had total assets of around HKD34 billion (USD4 billion) in 2010. [more]