Weil and Sidley advise on $7.6bn aviation company merger
Weil Gotshal & Manges advises aviation company Bohai Leasing on its acquisition of Irish leasing company Avolon
September 04, 2015 at 04:31 AM
2 minute read
Weil Gotshal & Manges and Sidley Austin are advising on Asia-based Bohai Leasing's $7.6bn (£4.9bn) acquisition of international aircraft leasing company Avolon.
Bohai, a subsidiary of Chinese aviation and shipping conglomerate HNA Group, has turned to Sidley for legal advice on the deal.
The firm's team is being led by Chicago corporate partner Pran Jha and also includes New York M&A partner Ted Kamman.
Weil is advising Avolon on the deal with the firm fielding a team based across Asia and the US.
New York partner Doug Warner is leading on the corporate aspects of the transaction alongside Shanghai based partner Charles Ching.
The team also includes New York-based partners Jennifer Bensch, who is advising on capital markets, and tax specialist Kim Blanchard.
Dallas partner P.J. Himelfarb is leading the firm's public company advisory group on the deal, while partner Paul Wessel is providing executive compensation advice to Bohai. The firm is also providing legal counsel on the antitrust aspects of the deal.
The acquisition sees Avolon shareholders receive $31 (£20.4) per share, with the transaction expecting to close in the first quarter of 2016.
The price is lower than originally discussed when merger talks were announced in August due to "volatility across global equity markets".
Bravia Capital is serving as exclusive financial advisor to Bohai while JP Morgan and Morgan Stanley are serving as financial advisors to Avolon.
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