Business
Purchase of Minority Holding in CLA
Purchase of Minority Holding in CLA.
About this update from Avation Plc
[{"type":"text","content":"\n \nRNS Number : 1946S Avation PLC 22 September 2014 \n \n\nRNS: AVAP\nRNS: CLA\n22 September 2014\n \nAVATION PLC\n(the \"Company\" or \"Avation\")\n\nPURCHASE OF MINORITY HOLDING IN CAPITAL LEASE AVIATION PLC\n \nAvation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, has agreed to acquire 21,065,334 ordinary shares in aircraft lessor Capital Lease Aviation PLC (AIM: CLA) at a price of 20.5 pence per share in cash, increasing its holding of voting rights in CLA's issued share capital to 90.59% (disregarding the shares CLA holds in treasury). \nThe transaction has been entered into with the second largest shareholder in CLA after the Company itself and is expected to complete on or before 18 November 2014. \nExecutive Chairman of the Company, Jeff Chatfield, commented by saying, \"This further consolidates Avation's holding in CLA. The transaction is net asset accretive. Avation has been growing its asset base and recently announced a broadening of its business activities with new aircraft lessees in Europe and Asia.\" \n \n \n---ENDS---\n \n \nMore information on Avation PLC can be seen at: www.avation.net\n \n\n\n\n\nAvation PLC \n\n\nJeff Chatfield, Executive Chairman\n \n\n\n+65 6252 2077\n\n\n\n\nWH Ireland \n\n\nHarry Ansell / James Joyce\n\n\n+44 207 220 1666\n\n\n\n\nCenkos \n\n\nGuy Briselden\n\n\n+44 207 397 8900\n\n\n\n\nBlytheweigh \n\n\nTim Blythe / Eleanor Parry\n\n\n+44 207 138 3204\n\n\n\n\n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCBLGDCCUDBGSB\n ","length":4315,"tagName":"div"}]