Conyers advises on Avolon’s billion-dollar acquisition of CIT Aerospace

Conyers provided Bermuda law advice in connection with the acquisition by Avolon Holdings Limited (Avolon) of the aircraft leasing business of CIT Group Inc. for USD10.38 billion and in connection with the related acquisition financing. The transaction completed on 4 April 2017.

Avolon is now the world’s third largest aircraft leasing company with a combined fleet, as of 31 December 2016, of 868 aircraft valued at over USD43 billion.

Jason Piney, Angela Atherden and Cathryn Minors of Conyers’ Bermuda office advised on this matter, working alongside Weil, Gotshal & Manges LLP. Wachtell, Lipton, Rosen & Katz served as legal counsel to CIT.