Oaktree-backed predator eyes swoop for London-listed Avation
Azorra, which has been backed by Oaktree since 2021, is interested in a takeover of commercial aircraft lessor Avation, Sky News understands.
An aircraft leasing company backed by Oaktree Capital, the $200bn US investment giant, is plotting a swoop on London-listed rival Avation.
Sky News has learnt that Azorra Aviation Holdings has been drawing up plans to make an offer for Avation.
City sources said a number of other parties in the aircraft leasing sector were also in the process examining bids.
Singapore-based Avation manages a fleet of over 30 aircraft, with customers having included easyJet,
Air Baltic and VietJet Air.
Its London-listed shares have a market capitalisation of just over £120m.
On Wednesday morning, they were trading at around 173.3p, having risen by more than a third during the last year.
Oaktree, which has assets under management of about $205bn, struck a deal to inject $350m into Azorra alongside the company's management team in 2021.
The status of Azorra's takeover interest in Avation was unclear on Wednesday morning.
It's assessment of a bid comes amid a flurry of consolidation elsewhere in the commercial aircraft leasing industry.
Oaktree declined to comment, while Avation has been contacted for comment.