Denis O'Brien Sells Aircraft Leesing Company to CarVal
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CarVal Investors LLC, the asset-manager unit of Cargill Inc., bought Aergo Capital Ltd., an Irish aviation leasing company co-owned by billionaire Denis O’Brien.
Aergo has “traded” over 150 airplanes since it was founded in 1999 by O’Brien and Chief Executive Officer Fred Browne, Minnetonka, Minnesota-based CarVal said in an e-mailed statement today. It did not give financial details. Browne will remain with the Dublin-based company and “reinvest” in a 10 percent stake, it said.