Castlelake L.P., a global alternative investment manager specializing in asset-based investing, has entered into a sale-purchase agreement with Avolon for Castlelake Aviation Limited’s (CA Ltd.) $5 billion portfolio of 118 aircraft. The portfolio, comprising modern narrowbody, widebody, and regional jets, was established by CA Ltd. in 2021 to finance fuel-efficient aircraft. The deal is expected to close in Q1 2025, subject to customary conditions.
Milbank LLP acted as legal counsel for Castlelake,Milbank LLP is acting as legal counsel to Castlelake in its complex $5 billion sale of a 118-aircraft portfolio to Avolon. The transaction is being handled by Milbank’s multidisciplinary team, led by Global Corporate/M&A partners Dean Sattler, head of the firm’s US Corporate/M&A practice, and Benjamin Fidler (New York). Transportation and Space partner Alexandra Johnson (New York) and partner Nick Swinburne (London) also play key roles, alongside Global Corporate/M&A partner Andrew Nuthall (London).
The Milbank team across corporate finance, transportation, tax, and antitrust practices includes; Corporate Finance and Securities partner Brett Nadritch Milbank (New York), Associates Emilie Blicher, Sarah Murray (New York), and Michael Terry (London), and Transportation and Space associates William Corso, Ariella Stepanian, Oleg Kozel, and law clerk Favour Agunu (New York), as well as associate Harriet Rugg-Easey (London).
Antitrust partners Fiona Schaeffer (New York) and Andrea Hamilton (London) also provided guidance, alongside special counsel Alexis Brown-Reilly (Washington, DC), associate Jan Maas (Munich), and senior antitrust specialist Andrea Haggerty (New York).
The Tax team was led by partner Alan Rafferty and associates Jade Du Berry and Liam Markham (London), Global Risk & National Security partner Bijan Ganji and associates Brian Murff and Bridget Golob (Washington, DC) provided additional support.
Clifford Chance advised Avolon, a leading global aviation finance company, with a cross-practice team led by Corporate partner Nicholas Rees and Asset Finance partner Oliver Hipperson.
The Clifford Chance team was supported by director Christopher Hardisty, senior associates Antonio Folgore, Tim Hunter Jones, Philippa Lawson, and Chelsea Bruk-Jackson, along with associates Alice Butcher, Sarah Kate Boyd, and Cathal Lynam.
The tax aspects were handled by partner Edward Page and senior associate Paul Harrington. Employment law advice was provided by partner Chinwe Odimba-Chapman and senior associate Kristen Hammond, Antitrust issues were managed by partner Richard Blewett, counsel Chandralekha Ghosh, and associate Ilya Stekunov. Partner Zarrar Sehgal and counsel John McManmon contributed support on New York law matters.
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