12th Sep 2007 09:29
Standard Chartered PLC12 September 2007 Standard Chartered to acquire Pembroke Group Limited Standard Chartered has entered into an agreement to acquire Pembroke GroupLimited ("Pembroke"), a well-established aircraft leasing, financing andmanagement firm, from Medulla Asset Managers Limited. The acquisition is subjectto certain regulatory consents and is expected to be completed in the finalquarter of 2007. Pembroke, based in Dublin, will provide an excellent platform for StandardChartered to provide enhanced financing solutions and meet the growing demandfor aircraft leasing in its markets across Asia, Africa and the Middle East. Mike Rees, CEO Wholesale Banking, Standard Chartered, said: "We see manyopportunities across our markets in the aviation sector, underpinned by strongair passenger growth and a continuing structural shift towards lease financing.We are now in a position to seize these opportunities, combining Pembroke'sknowledge and experience with Standard Chartered's global franchise." V. Shankar, Group Head of Client Relationships, Standard Chartered, added: "Thisis an exciting enhancement of our product capabilities and will serve thegrowing and complex demands of our airline clients, driving the growth in ourtransportation finance business." Pembroke CEO, Garry Burke, commented: "We are delighted to become part ofStandard Chartered. We look forward to leveraging Standard Chartered's strongrelationships across some of the world's fastest growing aviation markets todrive the growth of Pembroke's business." As at 31 December 2006, the gross assets of Pembroke were approximately USD427million. For further details please contact: Standard Chartered Stephen Atkinson, Head of Investor RelationsTel: +44 20 7280 [email protected] Tim Baxter, Head of External CommunicationsTel: +44 20 7457 [email protected] Notes to Editors Standard Chartered - leading the way in Asia, Africa and the Middle East Standard Chartered PLC is listed on both the London Stock Exchange and the HongKong Stock Exchange and is consistently ranked in the top 25 among FTSE-100companies by market capitalisation. Standard Chartered has a history of over 150 years in banking and operates inmany of the world's fastest-growing markets with an extensive global network ofover 1,400 branches (including subsidiaries, associates and joint ventures) inover 50 countries in the Asia Pacific Region, South Asia, the Middle East,Africa, the United Kingdom and the Americas. As one of the world's most international banks, Standard Chartered employs over60,000 people, representing over 100 nationalities, worldwide. This diversitylies at the heart of the Bank's values and supports the Bank's growth as theworld increasingly becomes one market. With strong organic growth supported by strategic alliances and acquisitions anddriven by its strengths in the balance and diversity of its business, products,geography and people, Standard Chartered is well positioned in the emergingtrade corridors of Asia, Africa and the Middle East. Standard Chartered derives over 90 per cent of profits from Asia, Africa and theMiddle East. Serving both Consumer and Wholesale Banking customers worldwide,the Bank combines deep local knowledge with global capability to offer a widerange of innovative products and services as well as award-winning solutions. Trusted across its network for its standard of governance and corporateresponsibility, Standard Chartered takes a long term view of the consequences ofits actions to ensure that the Bank builds a sustainable business through socialinclusion, environmental protection and good governance. Standard Chartered is also committed to all its stakeholders by living itsvalues in its approach towards managing its people, exceeding expectations ofits customers, making a difference in communities and working with regulators. For more information on Standard Chartered, please log on towww.standardchartered.com Pembroke Group Limited Pembroke, founded in 1993, provides aircraft leasing, financing, management andadvisory services to the Aviation industry. Pembroke has a diverse portfolio of79 owned and managed aircraft. Pembroke currently leases to 28 operators in 18countries across 5 continents. For more information on Pembroke, please log on to: www.pembroke-group.com -- ENDS -- This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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