Japan’s SMFG beats CDB to aircraft-leasing deal
Japan’s Sumitomo Mitsui Financial Group (SMFG) and Sumitomo Corp. have agreed to purchase Royal Bank of Scotland’s (RBS) aircraft-leasing business in a deal worth $7.3 billion. SMFG will take around 70% of RBS Aviation Capital, with trading company Sumitomo holding the rest.
The Japanese team narrowly beat out China Development Bank, while Wells Fargo and a group led by Australia's Macquarie were also reportedly interested in the asset. RBS Aviation Capital was founded in...
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