Avation initiates strategic review and formal sale process

Singapore-based lessor, Avation, is heading for a sale. It announced that the company is undertaking a  a comprehensive review of its “strategic options” to “maximise value for shareholders”. These options under consideration include merger and acquisition activity, an aircraft portfolio sale or the potential sale of the company. Avation has appointed Wells Fargo Securities as its financial adviser to assist it with its review. The company is now considered to be in a formal “offer period” and has confirmed that it is in preliminary discussions with one interested party about a potential sale of the company. Avation shares climbed 7%