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PacLife to Sell Aviation Unit

Newport Beach-based Pacific Life Insurance Co. said it will sell its aviation unit for an estimated $3 billion to minority stockholder Tokyo Century Corp.

Tokyo Century Corp., which owns 24.5% of Aviation Capital Group LLC (ACG), will obtain the remaining shares in a deal expected to close in the fourth quarter. ACG last month said its equity value was $3.6 billion.

“This acquisition of the remainder of ACG demonstrates a commitment to the growth and success of the ACG platform and the aircraft leasing industry,” ACG Chief Executive Khanh T. Tran said in a statement.

Tokyo Century (Tokyo: 8439) provides equipment leasing, mobility and fleet management, specialty financing and international business with a global network in 37 countries and regions. Its shares today rose 3% to 4,500 yen and an estimated 444 billion yen market cap, which is about $4.1 billion in U.S. dollars.

The Business Journal will have an in-depth article on Aviation Capital Group in our Sept. 16 issue.

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Peter J. Brennan
Peter J. Brennan
With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peter’s work reflects a commitment to impactful storytelling. Peter’s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peter’s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.
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