Sumitomo Mitsui Finance and Leasing said on Monday its joint venture will acquire Macquarie Rotorcraft, the helicopter leasing business of financial giant Macquarie’s asset management arm.
The Nikkei had reported the deal earlier in the day, valuing it at slightly over $1 billion.
The unit of Japan’s Sumitomo Corp did not provide financial details in the statement.
Sumitomo and Macquarie did not immediately respond to requests for clarification.
