The Carlyle Group (NASDAQ: CG), affiliate Carlyle Aviation Partners has reported signature on an agreement to acquire Fly Leasing Limited (NYSE: FLY) shareholders will receive USD 17.05 per share in cash that represents a valuation of USD 520 Million. The entire value of the transaction is approximately USD 2.36 Billion. William Hoffman, Chairman of Carlyle Aviation Partners, said, “This transaction, our largest fleet acquisition to date, will add 84 predominantly mid-life aircraft on lease to a diversified group of airlines to our managed portfolio. These aircraft fit strategically within our business and will give us an opportunity to create meaningful value for our investors.”
The board of directors of FLY have approved the agreement. The transaction is anticipated to close within the third quarter of 2021, subject to closing conditions, regulatory and shareholder approvals.
Funds from its fifth aviation fund SASOF V will be utilized to fuel this acquisition by Carlyle Aviation Partners.