DAE takes over Nordic Aviation: Dubai Aerospace Enterprise (DAE) inked a definitive agreement to acquire 100% of Irish aircraft leasing company Nordic Aviation Capital (NAC) for an undisclosed amount, according to a statement. DAE plans to bankroll its latest transaction using a mix of internal resources and committed debt financing.

What’s next? The transaction is subject to regulatory approvals and shareholder approval from NAC Holdings, with completion expected in 1H 2025.

What DAE is getting: NAC’s fleet comprised 252 owned and committed assets as of September last year, leased to some 60 airline customers in 40 countries. The acquisition will bring DAE’s total fleet size to about 750 aircraft worth USD 22 bn, leased to 170 airlines in 70 countries.

What they said: “NAC’s capabilities, complementary market presence, and people […] will allow us to provide more cost-effective solutions to a larger group of customers,” said DAE CEO Firoz Tarapore.

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

OTHER M&A NEWS-

The Sharjah government transferred 20.48% of its stake in Invest Bank — roughly 47.5 bn shares — to the Sharjah Social Security Fund (SSSF) via an off-market transaction on the Abu Dhabi Securities Exchange (ADX), according to an ADX disclosure (pdf). This leaves the government with a 70.06% share in the lender, while SSSF now holds 18.04%. The remaining 11.9% is split among other shareholders.

Tags: