A&O Shearman acted for Dubai Aerospace Enterprise (DAE) on its acquisition of Nordic Aviation Capital (NAC), advised by Clifford Chance.
DAE will acquire 100% of NAC for over $2 billion, including outstanding debt.
Over 85% of NAC’s shareholders have approved the deal, pending regulatory approvals and closing conditions. It is expected to be completed in the first half of 2025.
Once completed, the acquisition will result in a combined platform comprising of 750 aircraft with a total value of approximately $22 billion on lease to around 170 airline customers in about 70 countries.
The A&O Shearman team included partners Paul Nelson and Hugh Robinson in London and Pieter Huizing in Amsterdam. Litigation advice was provided by partners Eve Giles in London and Yacine Francis in Dubai. Tax advice was provided by partner Chris Harrison and sanctions advice by partner Matthew Townsend, both based in London.
The Clifford Chance team was led by corporate partner Nicholas Rees and aviation finance partner Richard Evans, based in London. Tax advice was provided by partner Edward Page, real estate advice by partner Matt Taylor, and employment advice by partner Chinwe Odimba-Chapman, all based in London. Antitrust advice was provided by partner Richard Blewett based in Brussells.
