DAE takes over Nordic Aviation Capital: Dubai Aerospace Enterprise (DAE) has finalized its full acquisition of Ireland-based Nordic Aviation Capital (NAC) for an enterprise value of USD 2 bn, according to statements here and here.

REMEMBER- DAE inked a definitive agreement earlier this year to acquire 100% of NAC for an undisclosed amount. DAE is bankrolling the latest transaction using a mix of internal resources and committed debt financing.

What DAE is getting: NAC’s fleet comprises 252 assets as of September last year, leased to about 60 airlines in 40 countries. NAC’s regional turboprop and jet assets will join DAE’s fleet to bring its total fleet size to about 750 aircraft worth USD 22 bn — leased to 170 airlines in 70 countries.

ADVISORS- Allen Overy Shearman Sterling and KPMG advised DAE on the transaction.

DAE’s been expanding: DAE inked a definitive agreement with Dublin-based mid-to-end-of-life aviation investor K2 Aviation to sell seven Airbus and Boeing aircraft on a leasing contract to six undisclosed airlines earlier in January. The firm also acquired 17 used aircraft for USD 1 bn in March.

On the flip side: DAE is reportedly mulling over the sale of its Jordan-based maintenance, repair, and overhaul (MRO) unit Joramco. The firm is reportedly tapping Morgan Stanley for the possible sale, which could see it divest its entire 80% stake in the company. Royal Jordanian Airlines currently holds the remaining 20%.

IN OTHER REGIONAL M&A NEWS-

Uber to buy into Turkey’s Trendyol: Uber reached an agreement to acquire an 85% stake in the Turkish e-commerce platform Trendyol Go, Reuters reports. The transaction — set to cost Uber USD 700 mn — comes as the US-based ride-hailing firm works on diversifying its operations abroad amid market saturation at home. The transaction is expected to close in 2H 2025.

What does it mean for Trendyol? Trendyol Go — which is fully owned by China’s e-commerce giant Alibaba — will continue to operate independently, while Uber will start planning how to integrate features from its food delivery arm Uber Eats into Trendyol.

A boon for Uber: The acquisition will give Uber control of the Turkish platform’s operations that cover meals and grocery deliveries from over 900k restaurants and markets through 19k couriers. Trendyol Go’s handled orders value grew by over 50% y-o-t in 2024, garnering about USD 2 bn in orders for 200 mn deliveries.

Tags: