Jaspan Schlesinger LLP, led by partner David Paseltiner with the assistance of partner Robert Londin, acted as counsel to the partners of Magellan Aviation Group LLLP (“Magellan”) in connection with the recent sale of 50% of the outstanding partnership interests of Magellan to Marubeni Aviation Parts Trading LLC, a subsidiary of Marubeni Corporation. As part of its representation of Magellan’s partners in the transaction, the Firm drafted and negotiated the purchase agreement as well as the partnership agreement among the continuing partners of Magellan and the Marubeni subsidiary. The transaction closed on June 29, 2012.
Bill Polyi, President of Magellan, stated, “David and his firm have represented us for more than twenty years. They were a key player in the transaction.”
With operational offices in Charlotte, North Carolina, and Shannon, Ireland, Magellan and its subsidiaries are leading aftermarket suppliers of aviation products and services (www.magellangroup.net). Magellan engages in the purchase, leasing, disassembly, sales and distribution of both commercial and regional aircraft, aircraft engines and spare parts. Magellan works closely with its customers throughout the world to provide them the most comprehensive, timely and valuable support.
Marubeni is a general trading company involved in world-wide business activities in a wide range of fields (www.marubeni.com). In the aviation sector, Marubeni has extensive experience in providing sales agency services for commercial aircraft, business jets and engines, investing in engine development programs, aircraft leasing, engine leasing, and various other services including aircraft components and airport ground handling services.