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StanChart to Sell Jet Leasing Arm to Saudi Wealth Fund Unit for $3.6 Bln

Standard Chartered said on Monday it was selling its global aviation finance leasing business to Saudi Arabia-based AviLease for about $3.6 billion, as part of a drive to streamline its operations. AviLease will pay an initial consideration of $700 million and is also funding repayment of $2.9 billion of net intra-group financing from the StanChart group, bringing the total consideration to about $3.6 billion. The deal comes at a time when the bank is focusing on business areas where it stands o...
Saudi Arabia Ar Riya Simon Cooper Fahad Al Saif Aircraft Leasing Co Saudi Arabia Public Investment Fund
Source: aawsat.com

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