Maples and Calder is advising Irish-headquartered global aircraft leasing firm Avolon in its US$7.6 billion sale to Bohai Leasing Co., Ltd. (“Bohai”), a majority controlled subsidiary of the HNA Group.

Under the agreed terms of the deal, Bohai will pay US$31 per common share in Avolon Holdings Limited (“AHL”), the holding company of the Avolon group which is listed on the New York Stock Exchange, representing a 55% premium on AHL’s initial public offering price of US$20 per share in December 2014.

The transaction is structured as a merger using the provisions of the Cayman Islands Companies Law, and is expected to close by the first quarter of 2016, subject to customary closing conditions.

Alasdair Robertson, Global Head of Finance at Maples and Calder, commented: “This high-profile transaction, with its complex multi-jurisdictional structure, exhibits and further deepens Maples and Calder’s unrivalled experience in acting on mergers and acquisitions in the aviation sector. Our global team has been able to draw on their experience in the Cayman Islands and Ireland and we are very pleased to have been able to assist our long-standing client, Avolon, with this important transaction.”

Maples and Calder’s Cayman Islands team comprised partners, Alasdair Robertson and Jonathon Meloy and counsel, Nicola Bashforth in the Cayman Islands office, in addition to partner, Nick Evans in the London office. The Irish team comprised partner, Ed Miller and associate, Mark Roberts (Corporate), as well as partner, Will Fogarty (Tax).

Avolon was advised by Weil, Gotshal & Manges LLP in the US, while Sidley Austin LLP acted as US counsel to Bohai.

About Maples and Calder

Maples and Calder is a leading international law firm advising financial, institutional, business and private clients around the world on the laws of the Cayman Islands, Ireland and the British Virgin Islands. Maples and Calder has offices in the British Virgin Islands, Cayman Islands, Dubai, Dublin, Hong Kong, London and Singapore.

With a reputation as an innovative, entrepreneurial firm, Maples and Calder is known worldwide as a market leader with highly qualified lawyers who are specialists in their respective practice areas.

About MaplesFS

MaplesFS, through its operating divisions Maples Fund Services and Maples Fiduciary, is an independent global provider of specialised fiduciary, accounting and administration services with offices in Boston, the Cayman Islands, Delaware, Dubai, Dublin, Hong Kong, Luxembourg, Montreal, the Netherlands, New York, San Francisco and Singapore.

MaplesFS is led by a team of experienced professionals and is committed to providing a high level of service tailored to specific client requirements.

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IMAGE: www.bohaileasing.com