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Bidding starts as Veal leaves Allco
16 February 2009
The strong shortlisted bidding group means a successful sale of Allco's aircraft leasing business is likely. However, David Veal's resignation could complicate the process.
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Allco
Citi
Bravia Capital Partners
BOC Aviation
GAAM
Ferrier Hodgson
Indigo Partners
Macquarie
Standard Bank
Seven firms have made it through to the second bidding round for Allco Aviation, but the sale may be complicated by the resignation of David Veal, the head of the Australian finance company's aircraft leasing division.
The eight shortlisted firms are: Bravia Capital Partners, a New York leasing company that specializes in financing Chinese and Indian carriers; BOC Aviation, the Singapore aircraft leasing subsidiary of Bank of China; GAAM, the Australian lessor financed by the Lieberman wine family; Indigo Partners, the specialist US aviation investment firm; Terra Firma, the private equity owner of Awas; Australian finance company Macquarie; and South Africa's Standard Bank and Investec.
John Kinghorn, the founder of Allco, is believed to have been one of about 25 bidders in the first round but has not made it to the second stage. Second round bids are due on February 26. A...
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