Mitsubishi UFJ Lease & Finance Co agreed to purchase U.S. aircraft leasing firm Jackson Square Aviation from Oaktree Capital Group LLC for about $1.3 billion yen, signaling rising interest from Japanese companies to tap the growth potential of aviation finance industry.Japan's No. 3 lender Sumitomo Mitsui Financial Group acquired Royal Bank of Scotland's aircraft leasing business for $7.3 billion in June, becoming a major player in the industry that is expected to enjoy growth amid the growth of low-cost carriers and rising air travel in emerging markets.Mitsubishi UFJ Lease, 20 percent owned by Mitsubishi Corp , will acquire JSA International Holdings for about 100 billion yen ($1.27 billion), the Japanese company said in a statement. It will use cash on hand and new loans to finance the acquisition, scheduled to take place in December, it said.San Francisco-based Jackson Square Aviation, led by Pegasus Aviation founder Rich Wiley, has a fleet of about 70 aircraft. Earlier this year, Mitsubishi UFJ Lease set up an aircraft lease operation in Dublin, with a fleet of about a dozen planes.
Oaktree Capital Group, LLC (Oaktree) is a global investment management firm focused on alternative markets. Shares of OAK traded higher by 1.74% or $0.69/share to $40.32. In the past year, the shares have traded as low as $34.00 and as high as $42.55. On average, 218325 shares of OAK exchange hands on a given day and today's volume is recorded at 37117.
Sumitomo Mitsui Financial Group, Inc. (SMFG) is engaged in the financial services-related business. Shares of SMFG fell by 0.33% or $-0.02/share to $6.05. In the past year, the shares have traded as low as $5.13 and as high as $7.06. On average, 1274090 shares of SMFG exchange hands on a given day and today's volume is recorded at 259067.
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