(Reuters) - China's HNA Group Co Ltd is in advanced talks to sell a minority stake in its aircraft-leasing business Avolon Holdings Ltd to Japan's Orix Corp (T:8591) in a deal that could be worth more than $2 billion (£1.55 billion), Bloomberg reported on Tuesday.
Orix is looking to buy a 25 percent to 30 percent stake in Avolon, Bloomberg said, citing a source, adding that there were also other suitors for the Avolon stake.
Orix has its fully owned aircraft-leasing business called Orix Aviation, which is based in Dublin.
Avolon, which has its headquarters in Dublin, is owned by Bohai Capital (SZ:000415), which in turn is majority controlled by HNA Group.
HNA is keen that it gets full price for the stake sale, sources told Reuters earlier this month.
The Chinese aviation-to-financial services firm has been offloading assets and its stakes in companies such as Hilton Worldwide Holdings Inc (N:HLT), Park Hotels & Resorts (N:PK) and Spain's NH Hotel Group SA (MC:NHH) as part of a wider reorganisation.
A spokesman for Tokyo-based Orix declined to comment. HNA was not immediately available for comment. There was no immediate response from Avolon to Reuters queries sent outside office hours.