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Aircastle Ltd Completes Sale Of Shares To Marubeni Corporation

Friday, 12 Jul 2013 08:57am EDT 

Aircastle Ltd announced that it has successfully completed the issuance to Marubeni Corporation (Marubeni) of 12,320,000 common shares of Aircastle, representing 15.25% of Aircastle's issued and outstanding common shares, after giving effect to the issuance, at a price of $17.00 per share, for gross proceeds of approximately $209 million. Pursuant to a shareholder agreement between the parties that became effective upon the completion of the issuance, Marubeni will have the right to designate two directors for appointment to Aircastle's board of directors, with the initial appointment to be made prior to August 14, 2013. The shareholder agreement also contains certain provisions relating to Marubeni's and its affiliates' ability to transfer and acquire Aircastle's securities. 

Company Quote

0.27 +1.53%
12:31pm EDT