| China Investment Corp is key backer of bid for Dublin-based aircraft leasing body. China’s sovereign wealth fund has emerged as a key backer of the original bid for Dublin-based aircraft leasing group Avolon. That interest triggered a $2.55 billion (€2.3 billion) counter-bid for the business from another Chinese investor.
Avolon declared the counter-bid from Beijing-based Bohai Leasing to the New York Stock Exchange on Friday, saying its offer of $31 per share for 100 per cent of its stock followed an approach from an unnamed third party at $30 per share. The original bid is understood to be led by AVIC Capital, a unit of Aviation Industry Corp of China, in partnership with China Investment Corp, the country’s sovereign wealth fund. The fund’s portfolio was recently valued at about $740 billion...............................................Full Article: Source
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