Deals
Chinese Tycoon to Buy Irish Plane Lessor for About $2.8 Billion
- Cheng’s jewelry-to-property empire boosting aviation business
- Initial public offering for jet leasing unit is in the cards
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Hong Kong billionaire Henry Cheng’s jewelry-to-property business empire will acquire Dublin-based Sky Leasing for about $2.8 billion, including debt, to bolster the group’s aviation business.
Though the Cheng family’s Goshawk Aviation Ltd. announced the deal last month, it didn’t disclose the value at the time. Of the total, 70 percent of the purchase will be funded with debt and the rest from Goshawk parents Chow Tai Fook Enterprises Ltd. and NWS Holdings Ltd., Brian Cheng, one of the patriarch’s sons and an executive director at NWS, said in an interview.