FRANKFURT (dpa-AFX) - Monday, Deutsche Bank AG (DB) announced the acquisition of EUR 1.67 billion of loans from Norddeutsche Landesbank or Nord/LB's EUR 2.75 billion aircraft financing portfolio.
Furthermore, approximately EUR 1.1 billion of the portfolio will remain with Nord/LB Group and be phased out gradually. Nord/LB's current aircraft portfolio comprises about 300 financed aircraft and engines.
The Deutsche Bank stated that the portfolio is being purchased by its Global Credit Financing & Solutions business.
The purchase price has not been disclosed by both parties. The purchase agreement's completion is contingent upon antitrust authorities' approval and is expected to be finalized in the second half of 2024.
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