Aircastle Limited (NYSE: AYR) has announced receipt of the final regulatory approval as a condition to a merger with an entity controlled by affiliates of Marubeni Corporation and Mizuho Leasing Company, Limited, the company said.
The parties received clearance from the competition authority in Morocco.
Aircastle expects to complete the merger on or about March 27, 2020. Upon completion of the merger, Aircastle´s shareholders will be entitled to receive USD 32.00 in cash for each common share of Aircastle (other than shares already owned by Marubeni and its affiliates).
Aircastle Limited acquires, leases and sells commercial jet aircraft to airlines throughout the world. As of December 31, 2019, Aircastle owned and managed on behalf of its joint ventures 287 aircraft leased to 85 customers located in 49 countries.