24th Sep 2014 11:41
LONDON (Alliance News) - Avation PLC Wednesday said it has further increased its stake in Capital Lease Aviation PLC to 94.8% with the acquisition of four million shares in the company.
The aircraft leasing group has paid for the increase in its stake in Capital Lease in cash and shares. It said 2.2 million of the shares have been covered by the allotment of 273,027 shares in the company, representing a 0.5% stake.
The remaining balance of 1.9 million shares has been acquired by Avation for 20.5 pence per share.
The acquisition price is the same as that paid by Avation on Monday, when it purchased 21.1 million Capital Lease shares to increase its stake to 90.6%.
Avation shares were down 1.6% to 158 pence on Wednesday. Capital Lease shares were flat at 19.5 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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