The COMESA Competition Commission has opened an inquiry into the proposed acquisition of two planes currently leased in Kenya, in a deal involving global lessor Azorra Aviation Holdings, LLC and Dubai Aerospace Enterprise (DAE) Ltd.
- •The transaction would see Azorra Aviation, through its subsidiary Azorra Nordic Holdings Limited, acquire the two planes indirectly owned by DAE.
- •The Commission said the review, undertaken under Article 26 of the COMESA Competition Regulations, follows a notification submitted in terms of Article 24 of the Regulations.
- •The Commission said it will determine whether the deal could substantially prevent or lessen competition, or otherwise go against the public interest, before approving the transaction.
Azorra Aviation is a United States-based aircraft lessor that provides leasing, financing, fleet transition and asset management solutions to airlines, financiers and investors worldwide. The company manages more than 100 aircraft leased to over 35 operators in 31 countries, with commitments for more than 160 planes, including new Airbus A220 and Embraer E2 models. Within COMESA, it operates in markets including the Democratic Republic of Congo (DRC), Egypt, Ethiopia, Kenya, Madagascar, Mauritius, Seychelles, Tunisia, Uganda and Zimbabwe.
DAE, headquartered in Dubai, is one of the world’s largest aircraft leasing companies, serving over 170 airline customers in more than 65 countries.
Elsewhere, the Commission has launched a separate inquiry into a major private equity transaction involving Delta Holdings B.V, a specialty chemicals manufacturer based in Egypt. The proposed deal involves the acquisition of an 83% stake in Delta Holdings by PEF Pharaoh Limited, an investment vehicle representing SPE Capital, Proparco and Amethis.
SPE Capital is a private equity firm focused on growth investments in Africa and the Middle East, with holdings in microfinance, consumer finance, education, healthcare and pharmaceuticals. Proparco, the private sector financing arm of the French Development Agency, funds businesses and financial institutions across Africa in sectors such as renewable energy, agriculture, banking, healthcare and agribusiness.
Amethis invests in financial services, technology, textiles and healthcare, with a regional portfolio spanning pharmaceuticals, data consulting, artificial intelligence, fabrics and hospitality products.
Together, the three investors have a footprint across at least 15 COMESA member states, including Kenya, Ethiopia, Uganda, Madagascar, Mauritius, Sudan, Tunisia, Zambia and Zimbabwe.
Delta Holdings’ operations are focused in Egypt, where it manufactures specialty chemicals.