In what was an unusually sluggish few days, Tuesday saw the
week’s only two deals. Royal Bank of Scotland sold its aircraft leasing unit
to a group of Japanese investors led by Sumitomo Mitsui Financial. Motives
behind the $7.3 billion deal include the buyers' aim to develop SMFL Aircraft's
presence in Asia, and the seller’s aim to strengthen their Tier 1 ratio. The
Japanese financial firm gained 1.2%, while RBS were up almost 2%. Also that
day, DS Smith purchased the packaging unit of Svenska Cullulosa, a Swedish
consumer goods firm, for $2 billion. This deal comes as the recycled packaging
manufacturer looks to increase its European market share. The bidder and vendor
rose 3.2% and 10.5% respectively.
