Sumitomo Mitsui Finance and Leasing Co., Ltd. (SMFL) has agreed to acquire 35% of LCI, a subsidiary of the Libra Group in the aviation sector.
In addition, SMFL and the Libra Group plan to grow LCI’s operations by $1.5 billion over the next few years with significant capital investments.
“We are honored to partner with SMFL, a global visionary organization with a rich and long history. Every executive at SMFL with whom we have worked has demonstrated the highest level of professionalism, ethical and moral character, and a deep commitment to sustainability and positive social impact. It is these shared values that will create a lasting partnership,” said Libra Group Executive Chairman George M. Logothetis.
He added that: “We expect to develop and deepen our relationship with SMFL over the years, as our long-term goals and value system are strikingly similar. The opportunities for collaboration are endless, from aviation to shipping and renewable energy. We look forward to working together for many years to come and in several sectors to meet the challenges of tomorrow.”
LCI’s first partnership with SMFL began in 2020 with the launch of a $230 million helicopter leasing joint venture with 19 next-generation helicopters.
Since then, the joint venture has expanded and now has a portfolio of more than 50 aircraft, valued at more than $550 million.
In addition to this transaction, senior representatives of Libra Group and SMFL signed a framework agreement that will serve to further cement the close business relationship that exists between the two groups.
Libra Group and SMFL intend to expand their partnership into additional industries and business activities of Libra Group.
Masaki Tachibana, Chairman of SMFL, said, “We seized the opportunity to make a significant investment in LCI’s equity and deepen our relationship with Libra Group, a business partner that has already earned our respect and admiration.
SMFL’s investment in LCI is the next step in what we hope will be a series of strategic partnerships in the helicopter and related business sectors and will allow both partners to further strengthen LCI’s operations.
The Libra Group shares our values and commitment to the UN Sustainable Development Goals and we see many exciting opportunities ahead for collaboration, innovation and impact in the communities in which we operate.”
