Japanese trading giant Sumitomo Corporation, international aircraft leasing company SMBC Aviation Capital, American asset management firm Apollo, and US investment outfit Brookfield have reached a definitive agreement to acquire Los Angeles-based Air Lease Corporation for USD7.4 billion through a newly established Dublin-based holding company, Sumisho Air Lease Corporation (Ireland) DAC.
Norton Rose Fulbright is acting for Sumitomo on all transactional, corporate, competition and regulatory aspects of the deal. London-based corporate partner Alan Bainbridge led the team, alongside Tokyo-based client relationship partner, Akihiko Takamatsu.
Skadden is advising on all regulatory aspects of the transaction for Air Lease, with M&A partner Thomas Greenberg leading the team.
Milbank is providing counsel for Apollo and Brookfield, which have provided capital to support the acquisition, joining Sumitomo Corporation and SMBC Aviation Capital as aligned investors. Milbank’s chair of transportation and space practice, Drew Fine, and global corporate and M&A partner and co-head of global infrastructure practice John Franchini are among lawyers leading the team.
Meanwhile, Davis Polk and McCann Fitzgerald are legal advisers to SMBC Aviation Capital. Davis Polk’s team include partners William Aaronson, Luigi De Ghenghi, Lee Hochbaum and Eric McLaughlin.
The transaction is subject to customary closing conditions, including approval by Air Lease’s class A common stockholders and receipt of certain regulatory approvals. It is expected to close in the first half of 2026.
On completion, Air Lease stockholders will receive USD65 in cash for each share of class A common stock, representing a total valuation of around USD7.4 billion.
Air Lease will also be renamed Sumisho Air Lease Corporation and its order book is expected to be transferred to SMBC Aviation Capital as part of the transaction. SMBC Aviation Capital will act as a servicer to Sumisho Air Lease’s portfolio
