ST Engineering divests 50% stake in Keystone Holdings for $15m

It will be sold to SJ Aviation Capital.

ST Engineering has divested 50% of its equity stake to SJ Aviation Capital, a Singapore-based subsidiary of Japanese Sojitz corporation.

According to a press release by ST Engineering, Keystone is the holding company for its aircraft leasing investments, currently holding subsidiaries in various geographies to support its portfolio purchase of aircraft which are currently on lease to global airlines.

“Upon completion of the Proposed Transaction, the shareholders plan to continue to build up a portfolio of mid-life and end-of-life single-aisle aircraft assets, tapping on opportunities created by global aircraft fleet expansion and renewal,” the press release said.

“Based in Japan, Sojitz Group consists of approximately 410 subsidiaries and affiliates globally. As a general trading company, it engages in a wide range of businesses, including import, export, manufacturing and sale of various products. Sojitz also invests in various sectors and conducts financing activities,” it added.