NAC welcomes GIC as a new shareholder

victoria@aviationnews-online.com
By victoria@aviationnews-online.com January 31, 2019 15:04

NAC welcomes GIC as a new shareholder

Nordic Aviation Capital (NAC) has formally welcomed GIC, Singapore’s sovereign wealth fund, as a new shareholder. The transaction comprises a partial sale by the existing shareholders and the injection of new capital to further strengthen NAC’s balance sheet and solidify its position as the global leader in regional aircraft leasing. EQT VI will remain the largest shareholder. Martin Møller also remains a significant shareholder and continues as Chairman of the company.

Commenting on the transaction, Martin Moller, Chairman of the Board said, “Since we partnered with EQT over three years ago, NAC has continued on its growth journey. We are now the fifth largest leasing company in the world with a fleet of 480 aircraft and an asset base of $8.3 billion. We have been deliberate in our choice of partner, GIC is one of the most sophisticated investors, and this landmark transaction will provide a unique opportunity for further growth and expansion with a strategic partner who has significant aircraft leasing experience. We look forward to advancing the partnership and accelerating the growth of the business.”

“We are delighted to welcome GIC on board as a minority shareholder. Securing a new investor is a testament to our continued strategy to be the global leader in regional aircraft leasing. Partnering with GIC will further strengthen our company’s commercial and financial position,” said Søren Overgaard, CEO of NAC.

victoria@aviationnews-online.com
By victoria@aviationnews-online.com January 31, 2019 15:04