NEW YORK, LONDON, MUNICH, WASHINGTON DC, January 17, 2012 – International law firm Milbank, Tweed, Hadley & McCloy LLP, represented Sumitomo Mitsui Banking Corporation (SMBC) in their acquisition of RBS Aviation Capital, creating the world's fourth largest commercial jet aircraft leasing and finance company, for US$7.3 billion from The Royal Bank of Scotland plc. This is the largest disposal by RBS since the government bailout in 2008.As a result of the sale, the consortium comprising SMBC, SMBC's parent Sumitomo Mitsui Financial Group and Sumitomo Corporation will acquire RBS Aviation Capital for an approximate consideration of US$7.3 billion (£4.7 billion), subject to certain closing adjustments. RBS Aviation Capital currently owns 206 aircraft and has commitments for another 87 aircraft by 2015. The future order commitments of $3.7 billion (£2.4 billion) will transfer with the business. The sale is expected to be completed before the end of Q3 2012. The Milbank transaction team was led by New York based Corporate partner Roland Hlawaty, with consulting partner Elliot...
Milbank Represents Sumitomo Mitsui Banking Corporation In $7.3 Billion Acquisition Of RBS Aviation Capital
|Profession:||Milbank, Tweed, Hadley & McCloy LLP|
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