Ireland is one of the PIGS...
from the frying pan into the fire?
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SINGAPORE: The Government of Singapore Investment Corporation (GIC) said it is investing US$300 million in the international aircraft leasing group Avolon.
GIC joins private equity firms Cinven, CVC Capital Partners and Oak Hill Capital Partners which, together, have invested a total US$1.4 billion in the Ireland-based leasing company.
The proceeds of Avolon's capital raising will be used to accelerate and fund its growth.
GIC and Avolon said in a joint statement Avolon's 88-strong fleet spread over 18 countries has an average aircraft age of 1.4 years, the youngest fleet of any aircraft lessor.
"Avolon's objective is to reach a fleet size of 150 aircraft, valued at US$6 billion by 2014," the statement said.
Avolon chief executive officer D?mhnal Slattery said of GIC's investment: "Their decision to make this significant investment in Avolon is a clear endorsement of the scale and quality of our franchise and the strong growth potential of the aircraft leasing sector."
from the frying pan into the fire?
=====
SINGAPORE: The Government of Singapore Investment Corporation (GIC) said it is investing US$300 million in the international aircraft leasing group Avolon.
GIC joins private equity firms Cinven, CVC Capital Partners and Oak Hill Capital Partners which, together, have invested a total US$1.4 billion in the Ireland-based leasing company.
The proceeds of Avolon's capital raising will be used to accelerate and fund its growth.
GIC and Avolon said in a joint statement Avolon's 88-strong fleet spread over 18 countries has an average aircraft age of 1.4 years, the youngest fleet of any aircraft lessor.
"Avolon's objective is to reach a fleet size of 150 aircraft, valued at US$6 billion by 2014," the statement said.
Avolon chief executive officer D?mhnal Slattery said of GIC's investment: "Their decision to make this significant investment in Avolon is a clear endorsement of the scale and quality of our franchise and the strong growth potential of the aircraft leasing sector."