NEWPORT BEACH, Calif. (Sep. 9, 2019) – Aviation Capital Group LLC (ACG) announced today that its majority shareholder, Pacific Life Insurance Company, has entered into an agreement where Tokyo Century Corporation will acquire from Pacific Life all of its outstanding interest in ACG. Tokyo Century initially acquired from Pacific Life a 20% interest in ACG in 2017 and has since contributed additional equity capital to ACG, increasing its ownership to 24.5%, to help accelerate its business expansion.
“Tokyo Century has been a valuable partner since 2017 and this acquisition of the remainder of ACG demonstrates a commitment to the growth and success of the ACG platform and the aircraft leasing industry,” said Khanh T. Tran, ACG’s president & CEO. “The ACG team is enthusiastic and looking forward to being part of the Tokyo Century family as we expand and continue to provide best-in-class global aircraft leasing, financing, and trading services.”
The transaction is expected to close in the fourth quarter of 2019.
Tokyo Century is publicly-held and listed on the Tokyo Stock Exchange. Its core lines of business include Equipment Leasing, Mobility & Fleet Management, Specialty Financing, and International Business with a global network in 37 countries and regions. More information can be found at: www.tokyocentury.co.jp/en/.