SHANGHAI: Chinese leasing company Bohai will buy Irish jet lessor Avolon in a deal which values the company at $7.6 billion, according to a statement, as Beijing pushes its companies to search overseas for future growth.

Bohai Leasing Co. will pay $31 per common share in New York-listed Avolon, a 31 percent premium to its closing price on July 13, the day before Bohai’s interest in a deal was formally announced, Avolon said in the statement on Thursday.

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