DVB sale enters second round | News | Airfinance Journal

DVB sale enters second round

The sale of transport financier DVB Bank is now in the second round of bidding, according to sources.

Sources with knowledge of the transaction say that eight or nine institutions are left in the running to buy the business. Some have bid to buy the aviation department of DVB and others want to buy both the aviation and land transport businesses. Others have only bid for DVB's aviation fund Deucalion.

Although the deadline for second-round bids has not been finalised, it is understood that it is likely to be early October, sources say.

Banks, lessors and funds have all submitted second-round bids, sources say. A source adds that 17 proposals were submitted in the first round.

One source says that SMBC, MUFG, Macquarie Bank, Mizuho and Deutsche Bank have shown interest in either acquiring DVB Bank's land transport and aviation businesses or solely its aviation business, in the second round of bidding.

Airfinance Journal reported on 20 June that first-round bids for the German bank were due 18 July.

In the first round, most interest came from “three or four” entities in the United States, one source said at the time, with Pimco and KKR named as potential bidders.

The DVB platform has also attracted interest from the Far East, with one Japanese entity, and one Chinese entity, said to be CDB, likely to bid. Another “two to three” entities from Europe, among them Deutsche Bank, and the Middle East were also in the first round, said a source at the time.

Transaction SnapshotKorean Air | A/c Secured loan | 02-14 | $100m | 1x777-200 + 1x747-400 + 3x737-900

Financial Close:
$100.00m USD
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