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Standard Chartered PLC — M&A Activity 2007
Sep 12, 2007
4648_rns_2007-09-12_e7097261-fb1a-43ba-8b0b-5420bc4f9d87.pdf
M&A Activity
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Standard Chartered PLC
(Stock Code: 2888)
12 September 2007
Standard Chartered to acquire Pembroke Group Limited
Standard Chartered has entered into an agreement to acquire Pembroke Group Limited (“Pembroke”), a well-established aircraft leasing, financing and management firm, from Medulla Asset Managers Limited. The acquisition is subject to certain regulatory consents and is expected to be completed in the final quarter of 2007.
Pembroke, based in Dublin, will provide an excellent platform for Standard Chartered to provide enhanced financing solutions and meet the growing demand for aircraft leasing in its markets across Asia, Africa and the Middle East.
Mike Rees, CEO Wholesale Banking, Standard Chartered, said: “We see many opportunities across our markets in the aviation sector, underpinned by strong air passenger growth and a continuing structural shift towards lease financing. We are now in a position to seize these opportunities, combining Pembroke’s knowledge and experience with Standard Chartered’s global franchise.”
V. Shankar, Group Head of Client Relationships, Standard Chartered, added: “This is an exciting enhancement of our product capabilities and will serve the growing and complex demands of our airline clients, driving the growth in our transportation finance business.”
Pembroke CEO, Garry Burke, commented: “We are delighted to become part of Standard Chartered. We look forward to leveraging Standard Chartered’s strong relationships across some of the world’s fastest growing aviation markets to drive the growth of Pembroke’s business.”
As at 31 December 2006, the gross assets of Pembroke were approximately USD427 million.
For further details please contact:
Standard Chartered
Stephen Atkinson, Head of Investor Relations
Tel: +44 20 7280 7245
[email protected]
Tim Baxter, Head of External Communications
Tel: +44 20 7457 5573
Notes to Editors
Standard Chartered – leading the way in Asia, Africa and the Middle East
Standard Chartered PLC is listed on both the London Stock Exchange and the Hong Kong Stock Exchange and is consistently ranked in the top 25 among FTSE-100 companies by market capitalisation.
Standard Chartered has a history of over 150 years in banking and operates in many of the world's fastest-growing markets with an extensive global network of over 1,400 branches (including subsidiaries, associates and joint ventures) in over 50 countries in the Asia Pacific Region, South Asia, the Middle East, Africa, the United Kingdom and the Americas.
As one of the world's most international banks, Standard Chartered employs over 60,000 people, representing over 100 nationalities, worldwide. This diversity lies at the heart of the Bank's values and supports the Bank's growth as the world increasingly becomes one market.
With strong organic growth supported by strategic alliances and acquisitions and driven by its strengths in the balance and diversity of its business, products, geography and people, Standard Chartered is well positioned in the emerging trade corridors of Asia, Africa and the Middle East.
Standard Chartered derives over 90 per cent of profits from Asia, Africa and the Middle East. Serving both Consumer and Wholesale Banking customers worldwide, the Bank combines deep local knowledge with global capability to offer a wide range of innovative products and services as well as award-winning solutions.
Trusted across its network for its standard of governance and corporate responsibility, Standard Chartered takes a long term view of the consequences of its actions to ensure that the Bank builds a sustainable business through social inclusion, environmental protection and good governance.
Standard Chartered is also committed to all its stakeholders by living its values in its approach towards managing its people, exceeding expectations of its customers, making a difference in communities and working with regulators.
For more information on Standard Chartered, please log on to
www.standardchartered.com
Pembroke Group Limited
Pembroke, founded in 1993, provides aircraft leasing, financing, management and advisory services to the Aviation industry. Pembroke has a diverse portfolio of 79 owned and managed aircraft. Pembroke currently leases to 28 operators in 18 countries across 5 continents.
For more information on Pembroke, please log on to: www.pembroke-group.com
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As of the date hereof the Board of Directors of the Company comprises:
Chairman:
Mr Evan Mervyn Davies, CBE
Executive Directors:
Mr Gareth Richard Bullock; Mr Michael Bernard DeNoma; Mr Richard Henry Meddings; Mr Peter Alexander Sands; and
Independent Non-Executive Directors:
Mr John Wilfred Peace; Sir C K Chow; Mr James Frederick Trevor Dundas; Ms Valerie Frances Gooding, CBE; Mr Rudolph Harold Peter Markham; Ms Ruth Markland; Mr Sunil Bharti Mittal; Mr Paul David Skinner; Mr Oliver Henry James Stocken and Lord Adair Turner.