Milbank LLP represented Aurora Bidco LLC, an entity formed by Apollo Global Management (NYSE: APO) and Athene Holding (NYSE: ATH), in its definitive agreement to purchase PK Airfinance from GE Capital Aviation Services (GECAS). PK is GECAS’s aircraft lending unit. In connection with the transaction, Apollo will acquire the PK Airfinance lending platform and Athene will acquire PK Airfinance’s existing $3.6 billion portfolio of loans.
Drew Fine, leader of Milbank’s global aviation practice stated that “we were delighted that we were able to bring a combination of our leading expertise in the aviation industry, mergers and acquisitions and structured finance to assist the purchaser and Apollo on this very important strategic acquisition.”
The transaction was led by Milbank partners Drew Fine, Alexander Kaye and Sean Solis.
