(Alliance News) - Aircraft leasing firm Avation PLC said Monday it has commenced a strategic business review, including possible sale of the company through a formal process.
Avation said that it is already in preliminary discussions with an interested party for the potential sale of the company.
Shares in Avation - which is based in Singapore - were up 8.0% at 293.00 pence on Monday in London, giving a market cap of GBP183.7 million.
Other options to be reviewed includes merger & acquisition activity, and the sale of an aircraft portfolio.
The company has appointed Wells Fargo Securities as its financial adviser to assist with the interview.
Avation said that despite the current discussions, there is no certainty that any offer would be made, or on what terms.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Avation (AVAP)