UPDATE 1-Air Lease to be sold to Sumitomo, Apollo-backed group for $7.4 billion

+0.05%

-0.96%

-1.51%

-2.01%

Air Lease Corporation Class A AL	64.61	+0.05%
Dow Jones Industrial Average DJI	45577.47	-0.96%
S&P 500 index SPX	6506.48	-1.51%
NASDAQ IXIC	21647.61	-2.01%

Adds details

Sept 2 (Reuters) - Aircraft leasing company Air Lease AL.N said on Tuesday it had agreed to be acquired by a newly formed holding company backed by Sumitomo Corporation, SMBC Aviation Capital and investment funds managed by Apollo and Brookfield for about $7.4 billion in cash.

Air Lease shareholders will be paid $65 in cash for each Class A common share they hold. Shares of the company were up about 4.5% in premarket trade.

The deal, which values the aircraft lessor at about $28.2 billion including debt, is expected to close in the first half of 2026.

(Reporting by Abhinav Parmar in Bengaluru; Editing by Shreya Biswas)

((Abhinav.Parmar@thomsonreuters.com;))

More This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.