Dubai Aerospace completes AWAS acquisition: Reuters

Dubai Aerospace Enterprise Ltd (DAE) has become one of the world's largest aircraft lessors after announcing this week it had completed the acquisition of Dublin-based AWAS, the industry's tenth biggest business, Reuters reported. The deal triples the Dubai government-controlled aircraft leasing and maintenance company's portfolio of owned, managed and committed fleet to about 400 aircraft worth more than US$14 billion. DAE said last month it had raised US$2.3 billion to finance the acquisition from British private equity firm Terra Firma Capital Partners and Canada Pension Plan Investment Board (CPPIB). Terra Firma and CPPIB invested in AWAS in 2006.

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