MUL confirms purchase of Jackson Square Aviation

Victoria
By Victoria October 5, 2012 12:59

MUL confirms purchase of Jackson Square Aviation

Yesterday Oaktree Capital Group succeeded in selling its stake in Jackson Square Aviation for 100 billion yen to Mitsubishi UFJ Lease & Finance Company Limited (MUL), the global leasing company headquartered in Tokyo. MUL purchased the California-based lessor by buying its parent JSA International Holdings. Oaktree was advised by Deutsche Bank on the sale.

The transaction is expected to close by the end of 2012, pending regulatory approvals. Jackson Square has a fleet of 76 next-generation aircraft valued in excess of $4 billion.
“We are excited to join forces with MUL,” said Richard S. Wiley, Jackson Square’s President and CEO. “Having the support of another major international financial services company enables us to continue to provide our airline customers with new capital to finance their next-generation deliveries.”
Scott B. Weiss, Jackson Square’s COO and Executive Vice President of Capital Markets, commented that “MUL brings to the table a premier brand name and a large presence in Asia, home to some of aviation’s highest growth markets. This will be a great combination of two superior global companies.”
“Airlines want to know they are conducting business with a well-capitalized lessor who will stand behind its commitments,” added Toby Bright, EVP and Head of Marketing. “With the support of MUL, we will continue to be a reliable source of funding for our airline customers.”
Following the sale of RBS Aviation to SMBC, there were many bidders left over seeking new opportunities, however, cash is king it seems in both deals with MUL buying JSA International reportedly with cash and equity. Mitsubishi UFJ Financial Group Inc., Japan’s largest bank, has made no secret of its aim to become one of Asia’s three biggest lenders by profit through acquisitions.

Victoria
By Victoria October 5, 2012 12:59
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