BREAKING: Sumitomo Mitsui Finance and Leasing Company to acquire 35% stake in LCI

Sumitomo Mitsui Finance and Leasing Company Limited (SMFL) is to acquire a 35% stake in operating lessor LCI. Building on the partnership forged in September 2020, SMFL and LCI’s parent company Libra Group plan to grow LCI’s business by US$1.5bn over the coming years with significant capital investment by shareholders.

The major investment will enable LCI to accelerate its planned growth over the next five years, according to the lessor.

George M Logothetis, executive chairman  Libra Group said: “We expect to progressively grow and deepen our relationship with SMFL over the years, our long-term outlook and belief system are strikingly similar. The possibilities for collaboration are endless, from aviation, to maritime, to renewable energy, to all that lies in between. We look forward to working together over many years and across many industries to meet tomorrow’s challenges.”

In September 2020 LCI revealed a $230m helicopter leasing joint venture in which SMFL and LCI were co-investors. The investment focused on 19 next-generation helicopters, with LCI also acting as fleet manager.

Meanwhile, Jaspal Jandu, CEO, LCI told Helicopter Investor the business aimed to accomplish three main goals by 2030. The first target was growth. Read the other two goals here.