Carey Olsen advises Amedeo Air Four Plus Limited on £190 million takeover by Lesha Bank
Carey Olsen's corporate team in Guernsey has advised Guernsey-registered Amedeo Air Four Plus Limited ("AA4+"), on its recommended cash acquisition by LAC 10 LLC, a subsidiary of Lesha Bank LLC ("Lesha Bank"), via a court-approved scheme of arrangement under Guernsey Law for a consideration of approximately £190 million.
AA4+ was listed on the Specialist Fund Segment of the London Stock Exchange's Main Market and had an investment objective of obtaining income and capital returns by acquiring, leasing and then selling aircraft. At the time of the sale, it had a portfolio of six A380s and two B77-300ERs leased to Emirates Airlines, and four A350-900s leased to Thai Airways.
Lesha Bank is a financial institution based in Qatar and listed on the Qatar Stock Exchange with a market capitalisation of approximately QAR 1.9 billion. The acquisition, which required the approval of the Competition Department of the Ministry of Economy of the UAE, is the next step in the creation of a global aircraft leasing portfolio alongside alternative aviation investments and builds upon the existing portfolio and investments made by Lesha Bank's aviation capital division to date.
The scheme of arrangement was sanctioned by the Royal Court of Guernsey on 28 June 2026 and became effective on the same day. Admission to trading of AA4+'s shares on the London Stock Exchange's Main Market was cancelled on 29 June 2026.
Working alongside onshore counsel Norton Rose Fulbright, the Carey Olsen team advising AA4+ on the Guernsey aspects of the takeover was led by partner Tony Lane, assisted by senior associate Jamie Oldfield. Advocacy at the Royal Court was undertaken by partner Tim Bamford. Partner Ben Morgan has been AA4+'s client relationship partner since advising on its launch and IPO in May 2015.
