A Chinese government-owned investor has bought 40% of Hong Kong lessor China Aircraft Leasing Company (CALC)

Chinese state-owned investment company China Everbright has purchased a 40% stake in Hong Kong-based lessor China Aircraft Leasing Company (CALC).

China Everbright purchased the shares in two tranches on June 30, through its subsidiary, China Everbright Aerospace Holdings.

CALC says the new shareholder will help the lessor embark on an aggressive growth strategy to increase its fleet significantly in the next few years.

The lessor says it is also in the process of bringing in another Chinese state-owned enterprise as shareholder, which it expects to complete in the third quarter.

China Everbright operates in Hong Kong and mainland China. It was listed on the Hong Kong Stock Exchange in 1997 and had total assets of around HKD 34 billion ($4 billion) in 2010.

CALC started in 2006 and has offices in Hong Kong, Ireland, and Shenzhen, Beijing and Tianjin in China.