DVB Bank has signed an agreement with MUFG Bank, a consolidated subsidiary of Mitsubishi UFJ Financial Group and BOT Lease, an affiliate of MUFG, for the sale and transfer of DVB’s Aviation Finance division to the firms.
The purchase agreement provides for the entire Aviation Finance client lending portfolio (€5.6 billion as at 30 June 2018), employees as well as other parts of the operating infrastructure to be transferred to MUFG. The transaction also provides the Aviation Investment Management and Asset Management businesses to be transferred to BOTL.
Closing of the agreement is subject to the approval of antitrust authorities, as well as other conditions. The sale is expected to be closed during the second half of 2019.
