Sumitomo Corp

8053: XTKS (JPN)
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Sumitomo Corp.: Air Lease Deal Expands Aviation Footprint; Fair Value Estimate Unchanged

Sumitomo Corp., together with affiliate SMBC Aviation Capital and asset managers Apollo and Brookfield, agreed to acquire aircraft lessor Air Lease for $7.4 billion—0.9 times book value and an 8% premium to Aug. 29 close.

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