Global law firm Clifford Chance has advised Nordic Aviation Capital (NAC) on its acquisition by Dubai Aerospace Enterprise (DAE). DAE will acquire 100 percent of the outstanding share capital of NAC, with the total transaction value over US$2 billion (including outstanding debt).
Over 85 percent of NAC’s shareholders have approved the transaction, which remains subject to the receipt of necessary regulatory approvals and other customary closing conditions.
NAC is a global leader in regional aircraft leasing and has expanded into larger narrowbody aircraft leveraging its world class asset management platform.
As of December 2024, NAC’s fleet comprised of 233 owned and committed aircraft on lease to approximately 60 customers in 40 countries.
The Clifford Chance team was led by corporate partner Nicholas Rees and aviation finance partner Richard Evans. They were supported by senior associates Antonio Folgore, Chelsea Bruk-Jackson, Lara Attarzadeh and Reiss Guiness and associates Alice Butcher, Dorothy Adu-mfum and Jeremy Pui. Partner Edward Page and senior associate Paul Harrington advised on the tax aspects of the transactions. Antitrust advice was provided by partner Richard Blewett, counsel Chandralekha Ghosh and associates Ilya Stekunov and Asli Kural, employment advice was provided by partner Chinwe Odimba-Chapman and senior associate Alistair Green and real estate advice was provided by partner Matt Taylor and senior associate Alice Raine.