CIC in talks to buy Avolon

China’s $653bn sovereign wealth fund, China Investment Corp (CIC), is in talks to buy Dublin-based aircraft lessors Avolon for between $4bn and $5bn including debt.CIC has joined forces with state-owned manufacturer Aviation Industry Corporation of China (AVIC) in its bid for Avolon in a deal potentially worth up to €12bn ($16bn).Sources close to the discussions have stated that the buyer group has been working on the potential acquisition of Avolon for the past several months, but any deal is still months away. Private equity-owned Avolon is estimated to have an equity value of around $2.5bn. The discussions with CIC are