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Home>Pacific Life Expands Aviation Capital Group Growth Capital Through Partnership With Strategic Investor

Pacific Life Expands Aviation Capital Group Growth Capital Through Partnership With Strategic Investor

Pacific Life Expands Aviation Capital Group Growth Capital Through Partnership With Strategic Investor

09/29/2017

Pacific Life Expands Aviation Capital Group Growth Capital Through Partnership With Strategic Investor

Tokyo Century Corporation to purchase 20 percent membership interest in Aviation Capital Group; Pacific Life to maintain controlling stake in aircraft leasing subsidiary

Pacific Life Insurance Company today announced it has entered into an agreement with Tokyo Century Corporation (TC) that results in an investment by TC for a 20 percent membership interest in Aviation Capital Group (ACG), Pacific Life’s wholly-owned commercial aircraft leasing subsidiary.

Per terms of the deal, in addition to this initial investment, TC has agreed to provide additional capital to ACG to help accelerate ACG’s business expansion and create incremental business opportunities. Pacific Life will retain a controlling interest in ACG.

“Pacific Life is vested in the continued growth and success of ACG, which has delivered strong and consistent earnings,” said Pacific Life Chairman, President and CEO Jim Morris. “Tokyo Century Corporation joins us as a committed strategic partner with familiarity in the commercial aircraft leasing industry, and a dedication to driving additional sources of growth and income for ACG.”

TC is publicly-held and listed on the Tokyo Stock Exchange. Its core lines of business include equipment leasing, specialty financing, domestic automobile financing, and international business with a global network in 37 countries. TC’s aircraft financing operation currently owns 48 aircraft. More information can be found at: www.tokyocentury.co.jp/en/.

Goldman Sachs served as financial advisor for this transaction, together with Debevoise & Plimpton LLC as the legal advisor.

The transaction is expected to close in the fourth quarter of 2017.

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