The vice president of China Minsheng Investment Corp. (CMI), Kong Linshan, says his firm is currently in talks to acquire a private-jet firm located in the western part of the United States.
Speaking to Bloomberg news, Kong said the purchase would compliment CMI's recent thrust into the European market where it acquired a 33.7% stake in Luxaviation (LXA, Luxembourg) and a 49% stake in ExecuJet Europe (Switzerland) (Zurich) parent ExecuJet Aviation Group for a total of EUR120 million (USD132 million).
Kong added that the acquisitions would allow CMI to both enhance its business expertise while at the same time lowering its operating costs through increased economies of scale.
CMI is also looking into helicopter leasing through its subsidiary Minsheng Financial Leasing, as well as hydroplanes, Kong said. The unit intends to acquire 100 Airbus Helicopters H125s and Eurocopter EC130s over the next five years.
