Sumitomo RBS

Sumitomo Mitsui pays $7.3 billion for RBS Aviation Capital

Sumitomo Mitsui buys RBS's aircraft leasing division as the UK lender continues to sell its non-core businesses.

Late on Monday, Sumitomo Mitsui Banking Corporation SMBC, acting for a consortium led by its parent Sumitomo Mitsui Financial Group SMFG agreed to pay 4.7 billion $7.3 billion for Royal Bank of Scotland’s aircraft leasing business, RBS Aviation Capital.

During the past few months, SMFG has had to fight off rival bidders, which included China Development Bank and Wells Fargo. Price and ability to complete the transaction are believed to be the main reasons for the Japanese bank’s victory.

The price includes future order commitments of $3.7 billion, and the sale is expected to be completed before the end of the third quarter this year....

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222