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NWG Natwest Group Plc

265.50
2.70 (1.03%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Natwest Group Plc LSE:NWG London Ordinary Share GB00BM8PJY71 ORD 107.69P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  2.70 1.03% 265.50 265.80 265.90 266.60 263.70 265.00 25,164,662 16:35:01
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Commercial Banks, Nec 14.77B 4.64B 0.5271 5.04 23.38B

Avolon Pursues IPO as Sale Talks Continue

22/08/2014 5:00pm

Dow Jones News


Natwest (LSE:NWG)
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Avolon Holdings Ltd. on Friday outlined more details of a planned initial public offering, though the Ireland-based aircraft leasing company is continuing talks with a number of potential buyers in Asia that could lead to a deal for the firm valued at almost $7 billion, according to a person familiar with the situation.

China's Avic Capital Co. last week said it was in talks to buy Avolon, which was launched four years ago with private equity backing by a group of former Royal Bank of Scotland PLC executives.

Avolon filed in June for an initial public offering in New York but has also been courting potential buyers in Asia, with banks and other finance companies in China and Japan leading a push in the region to acquire aircraft and other aviation assets.

Talks with Avic intensified in March, said the person familiar with negotiations. The Chinese company said in a regulatory filing Friday that it was pursuing two "significant" deals that would lead to its Shanghai-listed shares being suspended for up to 30 days.

Avolon continues to pursue a New York listing and on Friday filed additional disclosures, including board nominees that include former Citigroup Inc. executive Hamid Biglari and Gary Perlin, a former World Bank official.

The firm owns a fleet of 116 mainly narrowbody aircraft with a book value of $5 billion and manages 12 more for other investors leased to 48 airlines. It has a $6.6 billion order book for 74 jets that includes Boeing Co. 787s, and plans to buy A330neos from Airbus Group NV.

Avolon's largest shareholders are Cinven Partners LLP, CVC Capital Partners, Oak Hill Capital Partners and an affiliate of the Government of Singapore Investment Corp.

Write to Doug Cameron at doug.cameron@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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