Norton Rose Fulbright advises SMFL on Macquarie Rotorcraft acquisition

Global law firm Norton Rose Fulbright has advised Sumitomo Mitsui Finance & Leasing Co., Ltd. (SMFL) on the agreement of their subsidiary, SMFL LCI Helicopters Limited (SMFLH), to acquire Macquarie Asset Management’s helicopter leasing business, Macquarie Rotorcraft Limited (MRL).

SMFLH is a joint venture established in 2020 between SMFL and LCI Investment Limited (LCI) for helicopter operating leasing. Founded in 2013, MRL is a global helicopter leasing company with a fleet of around 120 leased aircraft that operate in offshore transportation, emergency medical services, search and rescue and utility markets.

The newly combined business will be managed by LCI. Following the acquisition, SMFLH and LCI will together own, manage or have on order around 310 aircraft.

A multi-jurisdictional team from Norton Rose Fulbright advised SMFL on all regulatory aspects of the acquisition. Partner Akihiko Takamatsu, with support from senior associates Mai Tezuka and Yosuke Nomura, led the team and advised on the Japanese aspects, while partners Thomas Delaney and Tim Byrne advised on the US elements. Partner Marc Waha, counsel Nicolas Cassauba, and associates Danyi Xu and Joe Lee advised on antitrust regulation.

Norton Rose Fulbright’s global team of aviation lawyers works with airlines, banks and financiers, lessors, manufacturers, insurers, export credit agencies, governments and regulatory bodies on the full range of aviation legal services. This includes fleet selection programs; partnering arrangements with fellow carriers, travel companies and other third parties; restructurings; competition law compliance; and a range of employment issues. The firm also advises on major aircraft financing and leasing transactions, including acting on significant ‘first-of-their-kind’ matters.