Dubai – Mubasher: Dubai Aerospace Enterprise (DAE) signed an agreement to acquire 100% of AWAS’ companies from Terra Firma Capital Partners and the Canadian Pension Plan Investment Board.
The transaction terms were not disclosed yet, according to a statement.
The combined company will have an owned, managed and committed aircraft fleet of 394 aircraft with a total value of more than $14 billion.
AWAS has a fleet of 263 owned, managed and committed aircraft, with a pipeline of 23 new aircraft on order to be delivered before the end of 2018.
The transaction will be financed by DAE’s internal resources and committed debt financing, with expectations to be completed in the third quarter of 2017.
