AVIC Capital ends plan

Source:Reuters-Global Times Published: 2014-12-1 23:33:02

China's AVIC Capital Co said on Monday it has canceled a plan to acquire Avolon Holdings after the US aircraft leasing firm's board and shareholders rejected the proposed price.

In a brief stock exchange filing, AVIC Capital, a Chinese State-owned aerospace and defense company, did not specify its proposed price to take over Avolon or the counter proposal by the shareholders of the takeover target.

Reuters reported in October that the unsuccessful talks with AVIC Capital and China's sovereign wealth fund CIC made an IPO the most realistic alternative for Avolon's private equity owners to cash out on their investment.



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