CVC Capital Partners reportedly stated it is considering a EUR12 billion takeover bid for Abertis (City AM, 20-Dec-2010). CVC has reportedly begun talks about financing the agreement and is thought to be planning to make an approach to the group in Jan-2011. Abertis operates London Luton, Cardiff and Belfast International Airports in the UK following its acquisition in 2005 of TBI, which also had eight international airports including Stockholm Skavsta, La Paz, Santa Cruz, Cochabamba and Orlando Sanford Airports. Abertis also operates toll roads in France, Spain, Italy and Portugal, as well as telecom businesses and car parks.
CVC Capital Partners considering takeover bid for Abertis: reports
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While Luton stepped back from the runway debate (its ‘proposal’ was submitted by a third party), the management at Stansted Airport (M.A.G), having been knocked back by the Airport Commission’s report, has found renewed vigour as the scope of the objections to both Heathrow and Gatwick expansion became clear. Indeed, the suggestion that the government might decide to let airports compete, rather than itself funnel resources into one location, has inspired M.A.G. to revisit its own ambitions for Stansted.
That is assuming of course that a decision is ever reached, as, unbelievably, it has been postponed yet again while the Prime Minister, Mrs May, ensures that a Cabinet transport sub-committee that is known to be divided on the issue has a good debate about it. Then, having made a recommendation, MPs - also divided - will have another year to argue over it and - perhaps - fail to reach a consensus.
HNA's Avolon group to acquire CIT Commercial Air, creating world’s third largest aircraft lessor
HNA Group’s remarkable spending spree continues, with the announcement that its Avolon subsidiary will acquire CIT Commercial Air, the aircraft leasing arm of CIT Group.
The USD10 billion deal will create the world’s third largest lessor - and they may be more to come yet.
Avolon itself was only recently acquired by HNA Group, with the USD2.7 billion purchase agreement being finalised in Jan-2016, via Bohai Capital Holdings.
Avolon is now the core aircraft leasing brand for the HNA Group. Including assets from Hong Kong Aviation Capital, Bohai Capital and several smaller HNA Group leasing firms, Avolon has a fleet of nearly 250 aircraft and almost 200 more on order.