Japanese financier ORIX is set to acquire 30% of Irish lessor Avolon from China’s Bohai Capital for $2.2 billion, with completion expected in the fourth quarter of 2018. Announcing the deal Aug. 8, Avolon said the buy-in from ORIX’s Ireland-based ORIX Aviation Systems subsidiary will provide “a significant credit enhancement,” valuing its overall business at $23.7 billion. Bohai will remain an Avolon shareholder, albeit with a smaller stake, and the agreement ...

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