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Aircastle Ltd Announces Sale Of Common Shares To Marubeni Corp


Thursday, 6 Jun 2013 04:38pm EDT 

Aircastle Ltd announced that it has entered into a definitive agreement with Marubeni Corp (Marubeni) providing for the issuance of approximately 15.25% of the Company's common shares, after giving effect to the issuance, at a price of $17.00 per share, for gross proceeds of approximately $209 million. The closing of the issuance is expected to occur during the second or third quarter of 2013, subject to customary closing conditions. In connection with the transaction, Aircastle and Marubeni also entered into a shareholder agreement that will become effective upon the completion of the issuance. At such time, Marubeni will have the right to designate two directors for appointment to Aircastle's board of directors. The shareholder agreement also contains certain provisions relating to Marubeni's and its affiliates' ability to transfer and acquire Aircastle's securities. 

Company Quote

20.74
-0.07 -0.34%
19 Dec 2014