Dubai Aerospace to buy CPPIB-backed aircraft lessor AWAS: Reuters

Dubai Aerospace Enterprise Ltd (DAE) is acquiring Dublin-based AWAS, the world's tenth biggest aircraft lessor, in a deal that will add over 200 planes to its fleet and more than double the size of its current business, Reuters reported. DAE, controlled by the government of Dubai, signed a definitive agreement to buy AWAS from British financier Guy Hands' private equity firm Terra Firma Capital Partners and Canadian Pension Plan Investment Board (CPPIB). They did not disclose financial terms of the deal. The sale marks the exit of Terra Firma and CPPIB from AWAS, in which they first put in money in 2006.

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