Sumitomo Corporation, Apollo, and four other major companies will acquire aircraft leasing company Air Lease.

On September 2nd, local time, Sumitomo Corporation, Mitsui Sumitomo Air Capital, Apollo, and Bohai announced that they have reached a final agreement to acquire aircraft leasing company Air Lease. After the transaction is completed, Air Lease will be renamed as Sumisho Air Lease. Apollo and Bohai have agreed to provide funding support for this transaction. According to the agreement terms, common shareholders of Air Lease will receive $65.00 per share in cash, with a total valuation of approximately $7.4 billion.