DBJ acquires shares of TES Holdings Limited
Tokyo, Japan, august 27, 2012 - Development Bank of Japan Inc. Tokyo, Japan (“DBJ”, CEO: Toru Hashimoto), together with Mitsubishi Corporation, Tokyo, Japan (“MC”, CEO: Ken Kobayashi) acquired 60% of TES Holdings Limited, Bridgend, Wales, UK (“TES”, CEO: Ashley Cooper), a commercial aircraft engine management company, from DVB Bank SE, Germany (“DVB”, CEO: Wolfgang F. Driese). Following completion of this acquisition, the new shareholdings in TES are: DVB 40%, MC 35% and DBJ 25%.
TES is one of the leading companies in commercial aircraft engine management, leasing and engine parts sales business with regional franchise operations in the U.S. and Singapore. The used aircraft engine market is expected to grow as existing aircraft and engines will soon be replaced by new more efficient engines and DBJ believes that TES is uniquely placed to capitalize on this growth. DBJ also believes that this acquisition could create additional opportunities through the development of strong relationships amongst the shareholders and TES.
In committing to this deal, DBJ has benefited greatly from the thirty-year history that DBJ and its predecessor, the Japan Development Bank (JDB), have had in supporting the Japanese aviation industry. DBJ expects to leverage TES’s expertise to develop the Maintenance Repair Overhaul (MRO) business in Japan.
Media Contacts:
Development Bank of Japan Inc.
Public Relations & Corporate Social Responsibility Office
Corporate Planning & Coordination Department
+81-3-3244-1180
TES is one of the leading companies in commercial aircraft engine management, leasing and engine parts sales business with regional franchise operations in the U.S. and Singapore. The used aircraft engine market is expected to grow as existing aircraft and engines will soon be replaced by new more efficient engines and DBJ believes that TES is uniquely placed to capitalize on this growth. DBJ also believes that this acquisition could create additional opportunities through the development of strong relationships amongst the shareholders and TES.
In committing to this deal, DBJ has benefited greatly from the thirty-year history that DBJ and its predecessor, the Japan Development Bank (JDB), have had in supporting the Japanese aviation industry. DBJ expects to leverage TES’s expertise to develop the Maintenance Repair Overhaul (MRO) business in Japan.
Media Contacts:
Development Bank of Japan Inc.
Public Relations & Corporate Social Responsibility Office
Corporate Planning & Coordination Department
+81-3-3244-1180