Aerospace & Defense News - Technology Asia / Pacific.

 
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New York (AirGuideBusiness - Aerospace & Defense News - Technology Asia / Pacific) Jun 10, 2013

Aircastle Limited Aircastle Announces Sale Of Common Shares To Marubeni Corporation. Aircastle Limited (AYR) ("Aircastle") announced today that it has entered into a definitive agreement with Marubeni Corporation ("Marubeni") providing for the issuance of approximately 15.25% of the Company's common shares, after giving effect to the issuance, at a price of $17.00 per share, for gross proceeds of approximately $209 million. The closing of the issuance is expected to occur during the second or third quarter of 2013, subject to customary closing conditions. Ron Wainshal, CEO of Aircastle, commented, "We are delighted to welcome Marubeni, one of Japan's leading trading companies, as a strategic, long-term oriented shareholder. With this equity investment, Aircastle will be well positioned to take advantage of exciting growth opportunities and to leverage Marubeni's global presence and network to expand into new markets, business opportunities and funding sources." In connection with the transaction, Aircastle and Marubeni also entered into a shareholder agreement that will become effective upon the completion of the issuance. At such time, Marubeni will have the right to designate two directors for appointment to Aircastle's board of directors. The shareholder agreement also contains certain provisions relating to Marubeni's and its affiliates' ability to transfer and acquire Aircastle's securities. This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the common shares nor does it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. Safe Harbor Certain items in this press release and other information we provide from time to time, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not necessarily limited to, statements relating to our proposed private placement of common shares and our ability to acquire, sell, lease or finance aircraft, raise capital, pay dividends, and increase revenues, earnings, EBITDA, Adjusted EBITDA and Adjusted Net Income and the global aviation industry and aircraft leasing sector. Words such as "anticipates," "expects," "intends," "plans," "projects," "believes," "may," "will," "would," "could," "should," "seeks," "estimates" and...

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