Avolon (NYSE: AVOL) said that the company´s shareholders have voted in favor of the proposal to authorize and approve the merger agreement, dated September 3, 2015, among Bohai Leasing Co., Ltd. (Parent), Mariner Acquisition Ltd. (Merger Sub) and the company, pursuant to which the company will merge with and into Merger Sub with the company surviving the merger as a wholly owned indirect subsidiary of Parent (the Merger), and to authorize, approve and confirm the transactions contemplated by the Merger Agreement, including the Merger.
The company´s shareholders also voted in favor of the proposals to amend and restate the company´s memorandum and articles of association and to decrease and amend the company´s authorized share capital, in both cases upon the completion of the Merger.
Approximately 87.5 percent of the company´s total outstanding voting shares voted in person or by proxy at today´s extraordinary general meeting, with approximately 99.8 percent of those shares voting in favor of the proposal to authorize and approve the Merger Agreement and the transactions contemplated by the Merger Agreement.
The parties currently expect to complete the Merger no later than the first quarter of 2016, subject to the satisfaction or waiver of all conditions set forth in the Merger Agreement. Upon completion of the Merger, the company will become a privately held company and its common shares will no longer be listed on the New York Stock Exchange.
Headquartered in Ireland, with offices in the United States, Dubai, Singapore and China, Avolon provides aircraft leasing and lease management services. Avolon had an owned, managed and committed fleet of 258 aircraft serving 56 customers in 33 countries as of September 30, 2015.