Norton Rose Fulbright is advising Amedeo Air Four Plus (AA4+) on the £190 million recommended cash acquisition by Lesha Bank's newly incorporated and wholly owned subsidiary LAC 10. AA4+ is registered and incorporated in Guernsey.
The proposed acquisition values AA4+ shares at 73 pence each, representing an estimated equity value of around £190 million. The transaction is structured to proceed via a court-approved Guernsey scheme of arrangement.
AA4+’s investment objective is to obtain income returns and a capital return for its shareholders by acquiring, leasing and then selling aircraft. AA4+ currently has a portfolio of six A380, two B777-300ER and four A350-900 aircraft, all on long-term leases to either Emirates Airlines or Thai Airways.
Lesha Bank is a financial institution based in Qatar and listed on the Qatar Stock Exchange with a market capitalisation of approximately QAR 1.9 billion.
Lesha Aviation Capital currently has assets under management of around $1.5 billion and its current portfolio consists of 15 wide body aircraft including six Boeing 787s, five Boeing 777-300ERs and four Airbus A350-1000s.
These assets are currently on lease to a Gulf Cooperation Council airline and a global flag carrier. The acquisition of AA4+ is the next step in the creation of a global aircraft leasing portfolio alongside alternative aviation investments and builds upon Lesha Aviation Capital’s existing portfolio and investments made in aviation infrastructure to date.
The London-based Norton Rose Fulbright team is being led by corporate partner Kit McCarthy, alongside corporate partner Alan Bainbridge and banking partner Giles Brand, supported by corporate associates Adam Worth, Katherine MacPhail and Shayne Ghelani.