09:25 AM EDT, 09/02/2025 (MT Newswires) -- Air Lease ( AL ) on Tuesday agreed to be acquired by a newly formed entity backed by an investor group including Sumitomo and Apollo (APO) in a deal that values the aircraft lessor at about $7.4 billion in cash, or $28.2 billion including debt obligations.

Sumitomo, SMBC Aviation Capital and investment vehicles affiliated with Apollo managed funds and Brookfield will purchase Air Lease ( AL ) through a new company called Sumisho Air Lease based in Ireland, according to a statement. Apollo and Brookfield will provide capital support for the acquisition.

Shareholders of Air Lease ( AL ) will receive $65 per class A share in cash under the terms of the agreement, representing a 14% premium to the company's 30-day volume weighted average share price as of Friday. Air Lease ( AL ) shares spiked 6.3% in the most recent premarket activity.

"After thoughtful consideration, the board has unanimously determined that this transaction represents the best path forward for our company as it will deliver an immediate premium and certainty in cash value to our class A common stockholders," Air Lease ( AL ) Chairman Steven Udvar-Hazy said in a statement.

The deal, which requires approval from Air Lease's ( AL ) shareholders and clearance from regulators, is expected to complete in the first half of next year. Sumitomo, SMBC Aviation Capital, Apollo and Brookfield said they have secured $12.1 billion in financing for the deal.

As part of the transaction, Air Lease ( AL ) will be renamed to Sumisho Air Lease and its orderbook will be transferred to SMBC Aviation Capital, which will act as a servicer to the company's portfolio.

Air Lease ( AL ) said it will not hold a conference call related to its financial results for the quarter ending Sept. 30 due to its proposed acquisition. Last month, the company reported second-quarter adjusted earnings of $1.40 per share, up from $1.23 the year before, while revenue improved 9.7% to $731.7 million.

"This important industry transaction highlights the flexibility of the Apollo's long-term insurance capital and our creative approach to high-grade capital solutions," according to Apollo Partner Jamshid Ehsani.