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NWS HOLDINGS LIMITED

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Delayed Hong Kong Stock Exchange  -  05/20 04:08:13 am EDT
7.950 HKD   +0.63%
05/18NWS Launches $150 Million Tender Offer for 4.25% Bonds Due in 2029
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05/16Aircraft lessor SMBC to buy rival Goshawk in $6.7 billion deal
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05/13Aircraft lessor SMBC Aviation nears $7 billion deal for rival Goshawk, sources say
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Aircraft lessor SMBC Aviation nears $7 billion deal for rival Goshawk, sources say

05/13/2022 | 09:14pm EDT
Illustration shows SMBC Aviation Captial logo

(Reuters) - SMBC Aviation Capital, one of the world's biggest aircraft lessors, is nearing a deal to acquire smaller rival Goshawk for about $7 billion, including debt, people familiar with the matter said on Friday.

The deal between the two privately held, Dublin, Ireland-based lessors could be announced as soon as next week, the sources said, speaking on condition of anonymity. It would create a global aircraft leasing giant as consolidation sweeps the industry.

Last year, the world's two largest aircraft leasing companies, Ireland's AerCap and GE's leasing arm GECAS, merged in a deal worth more than $30 billion.

SMBC Aviation Capital, which is owned by a consortium including Japan's Sumitomo Corp and Sumitomo Mitsui Financial Group, has a fleet of more than 750 owned, managed and committed aircraft, mostly Boeing and Airbus short-haul models, according to its website.

Goshawk, which is a 50-50 joint venture between Hong Kong-based conglomerate NWS Holdings Limited and Chow Tai Fook Enterprises Limited, has an owned, managed and committed fleet that consists of 222 aircraft, its website showed.

A spokesperson for SMBC Aviation Capital declined comment. Goshawk did not immediately respond to a comment request.

The trade publication AirFinance Journal first reported the talks between the two companies in November.

A flurry of deals has reshaped a global air finance industry that has attracted a huge swathe of capital in recent years.

The aviation investment arm of private equity firm Carlyle Group Inc agreed last year to buy aircraft leasing company Fly Leasing Ltd for $2.36 billion, including debt. In December, Carlyle's aviation arm also agreed to buy Irish leasing firm AMCK Aviation's portfolio of aircraft.

(Reporting by Anirban Sen in Bengaluru and David French in New York; Editing by Will Dunham)

By Anirban Sen and David French


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AERCAP HOLDINGS N.V. 2.32% 46.8 Delayed Quote.-30.08%
AIRBUS SE 0.49% 106.92 Real-time Quote.-4.84%
NWS HOLDINGS LIMITED 0.63% 7.95 Delayed Quote.8.76%
PSI 20 INDEX 0.28% 5921.16 Real-time Quote.6.31%
SUMITOMO CORPORATION 1.79% 1849 Delayed Quote.8.73%
SUMITOMO MITSUI FINANCIAL GROUP, INC. 0.15% 3896 Delayed Quote.-1.19%
THE BOEING COMPANY -5.07% 120.7 Delayed Quote.-36.85%
THE CARLYLE GROUP INC. 4.29% 36.74 Delayed Quote.-33.08%
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05/18NWS Launches $150 Million Tender Offer for 4.25% Bonds Due in 2029
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05/16Aircraft lessor SMBC to buy rival Goshawk in $6.7 billion deal
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05/13Aircraft lessor SMBC Aviation nears $7 billion deal for rival Goshawk, sources say
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Financials
Sales 2022 28 592 M 3 643 M 3 643 M
Net income 2022 3 053 M 389 M 389 M
Net Debt 2022 14 462 M 1 843 M 1 843 M
P/E ratio 2022 10,2x
Yield 2022 7,61%
Capitalization 31 094 M 3 962 M 3 962 M
EV / Sales 2022 1,59x
EV / Sales 2023 1,39x
Nbr of Employees 13 600
Free-Float 35,7%
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Number of Analysts 2
Last Close Price 7,95 HKD
Average target price 9,70 HKD
Spread / Average Target 22,0%
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Managers and Directors
Siu Cheung Ma Chief Executive Officer & Executive Director
Jim Lam Chief Financial Officer
Kar Shun Cheng Executive Director
Chi Hang Ho Chief Operating Officer & Executive Director
Lai Him Shek Independent Non-Executive Director