Korea Transportation Asset Management (KOTAM) has been named as the preferred bidder for a stake in AirAsia Group's leasing unit, Asia Aviation Capital. KOTAM is part of Kukje Maritime Investment Corp. (KMarin), which specializes in shipping and logistics.
According to sources who spoke to Reuters, talks with KOTAM have focussed on the purchase of a majority stake in the lessor. South Korean state lender, the Korea Development Bank (KDB), has been tapped to provide funding, though it was not clear whether the bank had agreed to back the deal.
Earlier this year, AirAsia Group confirmed it had received eight non-binding bids for full ownership of its Asia Aviation Capital leasing unit. In one instance, it said it had received an offer for an 80% stake.
The sale is expected to be concluded in April.
