Industry Addendum: Leasing
Tokyo Century takes control of Aviation Capital Group
October 1st 2019
Pacific Life Insurance Company has agreed Tokyo Century Corporation will acquire all of the insurance group’s outstanding holdings in U.S. lessor, Aviation Capital Group (ACG). Read More » The transaction is expected to be finalised by December. The Japanese company bought 20% of ACG from Pacific Life in 2017 and has since increased its holding to 24.5%.
ACG president and CEO, Khanh T. Tran, said: “Tokyo Century has been a valuable partner since 2017. This acquisition of the remainder of ACG demonstrates a commitment to the growth and success of the platform and the aircraft leasing industry.”
ACG was established in 1989 and had been majority-owned by the Pacific Life Insurance Company until Tokyo Century’s investment in the lessor. At June 30, the full service aircraft asset manager had approximately 500 owned, managed and committed aircraft in its portfolio leased to 90 airlines worldwide.
Tokyo Century is listed on the Tokyo Stock Exchange. Its core business lines are equipment leasing, mobility and fleet management and speciality financing.
