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Freshfields advises DAE on its acquisition of SKY Fund I Irish, Ltd

Freshfields is advising Dubai Aerospace Enterprise (DAE) Ltd (DAE) on its acquisition of the entire issued share capital of SKY Fund I Irish, Ltd. and its subsidiaries (Sky Fund I) for an undisclosed amount.

Sky Fund I owns and is committed to own 36 aircraft on lease to 14 airline customers in 11 countries. The transaction is expected to complete in the fourth quarter of 2022, subject to the receipt of required regulatory approvals.

DAE is a globally recognised aviation services corporation with two divisions: DAE Capital and DAE Engineering. Headquartered in Dubai, DAE serves over 170 airline customers in over 65 countries. Completion of this transaction will provide six new airline customers for DAE and increase the proportion of new technology assets in its portfolio.

The cross-border Freshfields team is being led by Paul Humphreys in New York and Ziyad Nassif and Holly Baker in London. Antitrust advice is provided by Mary Lehner, Aimen Mir, Charles Ramsey and Tom Morgan. Sanctions advice is being provided by Nabeel Yousef and finance advice is being provided by Kyle Lakin. Tax advice is being provided by Robert Scarborough.