Orix set to acquire 30% stake in Avolon for $2.2 billion

Orix, the Japanese financial company, is close to acquiring 30% of outstanding voting shares in Avolon Holdings for US$2.24 billion. Avolon is owned by Bohai Capital, part of China's HNA Group, while Orix owns a leasing subsidiary in Ireland, Orix Aviation.

The deal is expected to close on 08 August 2018, propelling Orix from the 12th largest lessor to the number three position.

With the closing of the deal, Orix plans to be more active in the primary aircraft leasing market, while Avolon benefits from gaining access to Orix's fund customers.