Tokyo, Frankfurt, March 1st, 2019 --- MUFG and its consolidated subsidiary MUFG Bank, Ltd. announced today an agreement for the purchase and transfer of DVB’s Aviation Finance division to MUFG Bank and BOT Lease Co., Ltd., MUFG Bank’s affiliate.
The asset purchase agreement provides for the entire Aviation Finance client lending portfolio (approximately €5.6 billion as at 30 June 2018), employees and other parts of the operating infrastructure to be transferred to MUFG Bank, Ltd. The transaction also includes the acquisition of DVB’s Aviation Investment Management and Asset Management businesses which will be transferred to a newly established subsidiary of BOT Lease.
Closing of the transaction is subject to the approvals of relevant authorities, as well as other conditions. This transaction is expected to be closed during the second half of 2019.
DVB's Aviation Finance division is a leading arranger and provider of financing for aircraft (narrowbody, widebody, and other passenger and freighter aircraft). Aviation Finance offers its clients tailor-made financing solutions ranging from bridging loans to complex long-term facilities. DVB Bank’s Aviation Investment Management business is a fund management team focused on investment advisory services and investments in aviation equity instruments, and DVB Bank’s Aviation Asset Management business is a leading player in aircraft remarketing as well as lease and technical management.
“Aviation Finance is a key growth pillar for MUFG and this acquisition will see a step-change in our ability to offer bespoke solutions to our clients. We are excited to be welcoming lots of experienced professionals to our established team, enabling us to broaden our customer base and cement our position as a leading player in this space”, said Masato Miyachi, MUFG’s Senior Managing Corporate Executive. “This acquisition is expected to enhance our Global CIB Business platform in terms of higher returns, portfolio diversification and solution offering to our clients” he added.