RBS Aviation is sold to a group led by Sumitomo Mitsui Financial Group Inc. for $7.3bn (£4.5bn) – SMFL Aviation Capital Corp will get the portfolio

Royal Bank of Scotland Group’s aviation division has finally been sold off for about $7.3bn in the world’s largest acquisition of a leasing business thus far. Sumitomo Mitsui Financial Group, Japan’s second-largest bank by market value, clubbed together to form the bid with its main lending unit, as well as Sumitomo Mitsui Finance & Leasing Co. and trading company Sumitomo Corp to pull off the deal. They have won the bidding war to purchase all 206 aircraft along with commitments to buy another 87 by 2015. Sumitomo Mitsui said it will use RBS Aviation Capital to expand in emerging markets