4-Mar-2019 10:37 AM

MUFG to acquire DVB Bank's aviation finance division

MUFG and its subsidiary MUFG Bank announced (01-Mar-2019) an agreement for the purchase and transfer of DVB Aviation's finance division to MUFG Bank and BOT Lease Co. Key details include:

  • The agreement covers an aviation finance client lending portfolio valued at approximately EUR5.6 billion as of 30-Jun-2018;
  • DVB Aviation's employees will also be transferred to MUFG Bank;
  • The transaction covers DVB's Aviation Investment Management and Asset Management businesses, which will be transferred to a new subsidiary of BOT Lease;
  • Closing of the transaction is subject to the approvals of relevant authorities, as well as other conditions;
  • Transaction is expected to be closed during 2H2019.

MUFG senior managing corporate executive Masato Miyachi said: "Aviation finance is a key growth pillar for MUFG and this acquisition will see a step-change in our ability to offer bespoke solutions to our clients… This acquisition is expected to enhance our Global CIB Business platform in terms of higher returns, portfolio diversification and solution offering". [more - original PR]

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