Aircastle Limited (NYSE: AYR) has announced shareholders have approved a plan of merger by and among Aircastle, MM Air Limited and MM Air Merger Sub Limited, the company said.
The merger agreement provides for the merger of MM Air Merger Sub with and into Aircastle, with Aircastle surviving the merger as a wholly owned direct subsidiary of Aircastle. Aircastle and MM Air Merger are controlled by affiliates of Marubeni Corporation and Mizuho Leasing Company, Limited.
Upon completion of the Merger, Aircastle´s shareholders will be entitled to receive USD 32.00 in cash for each common share of Aircastle.
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.