Avolon board considering unsolicited offers for 100% of equity

Avolon (NYSE: AVOL), the international aircraft leasing company, said it has received a cash tender offer by Bohai Leasing Co., Ltd. for 20 percent of the issued and outstanding common shares of Avolon at a price of USD26 per share.

The offer is being made pursuant to the investment and tender offer agreement dated July 14, 2015 between Avolon, Bohai and an indirect wholly owned subsidiary of Bohai.

Avolon said it has also received a non-binding unsolicited offer from an independent third party to acquire 100 percent of the issued and outstanding common shares of Avolon at a price of USD30 per share.

As required by the terms of the agreement, Avolon informed Bohai of the unsolicited offer. After Avolon informed Bohai of this offer, Bohai submitted a non-binding offer to acquire 100 percent of the issued and outstanding common shares of Avolon at a price of USD31 per share.

Avolon´s board of directors has not accepted or rejected either offer and continues to carefully evaluate these offers with its financial and legal advisors and has authorized its financial advisors to continue negotiations with both offerors regarding their respective offers.

Avolon is an international aircraft leasing company, headquartered in Ireland, with regional offices in China, Dubai, Singapore and the United States. Avolon provides aircraft leasing and lease management services. At June 30, 2015, Avolon had an owned, managed and committed fleet of 260 aircraft serving 56 customers in 33 countries.