BAE Systems sells leasing unit; Aerocentury shares trading lower

BAE Systems has agreed to sell BAE Systems Asset Management (BSAM), its commercial aircraft lease portfolio and asset management business to investment affiliates of Fortress Investment Group. The sale, which is expected to close in 3Q2011, is for a cash consideration of USD187 million. Fortress has USD43.1 billion in global investments as of 31-Mar-2011.

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