MUFG to acquire aviation finance division from DVB Bank

Lauren Eldershaw
By Lauren Eldershaw March 1, 2019 13:20

MUFG to acquire aviation finance division from DVB Bank

MUFG and its consolidated subsidiary MUFG Bank, Ltd. announced today an agreement for the purchase and transfer of DVB’s Aviation Finance division to MUFG Bank and BOT Lease, MUFG Bank’s affiliate.

The asset purchase agreement provides for the entire aviation finance client lending portfolio (approximately €5.6 billion as at 30 June 2018), employees and other parts of the operating infrastructure to be transferred to MUFG Bank. The transaction also includes the acquisition of DVB’s Aviation Investment Management and Asset Management businesses which will be transferred to a newly established subsidiary of BOT Lease.

Closing of the transaction is subject to the approvals of relevant authorities, as well as other conditions. The transaction is expected to be closed during the second half of 2019.

“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. We are excited to be welcoming lots of experienced professionals to our established team, enabling us to broaden our customer base and cement our position as a leading player in this space,” said Masato Miyachi, MUFG’s Senior Managing Corporate Executive. “This acquisition is expected to enhance our Global CIB Business platform in terms of higher returns, portfolio diversification and solution offering to our clients,” he added.

Lauren Eldershaw
By Lauren Eldershaw March 1, 2019 13:20