Twitter LinkedIn
    Tuesday, February 7
    Login
    0 Shopping Cart
    Twitter LinkedIn
    Private Equity InsiderPrivate Equity Insider
    • About Us
    • Digital Events
    • Our Network
      • Reach
      • Sponsors
      • Members
    Private Equity InsiderPrivate Equity Insider
    Home»Mergers & Acquisitions»Gatwick Airport co-owner outbids Blackstone to buy Signature Aviation
    Mergers & Acquisitions

    Gatwick Airport co-owner outbids Blackstone to buy Signature Aviation

    January 11, 2021Updated:January 14, 20211 Min Read
    LinkedIn Facebook Twitter Email WhatsApp
    Share
    LinkedIn Facebook Twitter Email WhatsApp

    (Reuters) – The co-owner of London’s Gatwick Airport, Global Infrastructure Partners, clinched a $4.63 billion deal to buy British private jet servicing company Signature Aviation on Monday, trumping private equity giants Blackstone and Carlyle.

    The deal with Global Infrastructure Partners, whose approach was rebuffed by the company in December, comes after Blackstone said on Friday it had won the support of Signature Aviation’s biggest shareholder Bill Gates for a possible $4.3 billion bid.

    New York-based GIP will pay Signature Aviation shareholders $5.50 in cash for each share, while Blacktone had offered $5.17 per share.

    Shares in the company formerly known as BBA Aviation rose 6.4% to 430.4 pence, taking the stock to the top of the FTSE-250 index in early trading on Monday.

    GIP plans to take Signature Aviation off the London Stock Exchange if the deal goes through.

    As airlines across the world struggle with COVID-19 induced travel curbs, private jet operators have fared better as wealthy passengers switch to what is perceived as a safer way to fly.

    Blackstone’s agreement with Gates for its planned offer came hours after Signature had confirmed an initial takeover approach from Carlyle.

     

    Source: Reuters

    Image Source

    Related

    Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.

    Bidding deals
    Share. LinkedIn Facebook Twitter Email WhatsApp

    Related Posts

    Blackstone commits up to $359m to acquire majority stake in R Systems

    November 17, 2022

    Centerbridge and Bridgeport complete $1.6B CSI acquisition

    November 17, 2022

    Bain Capital to acquire Japanese clothing firm Mash Holdings for $1.4B

    November 16, 2022

    BlackRock to acquire Jupiter Power from EnCap Investments

    November 15, 2022

    Comments are closed.

    Other Articles

    Maguar Capital Partners closes debut fund at EUR104m hard cap

    May 26, 2021

    L Catterton Said to Rival CVC Capital in Race for Birkenstock

    February 1, 2021

    NBA Africa Valued at $1 Billion With Watsa, Mutombo Backing

    May 24, 2021

    CVC invests £250m in Away Resorts

    June 22, 2021

    Private Equity Insider LLC
    1212 Avenue of the Americas
    New York City 10036
    USA

    [email protected]

    Twitter LinkedIn
    © 2023 Private Equity Insider LLC. All rights reserved.
    • About
    • Terms of Use
    • Cookie Policy
    • Privacy Policy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.

    View Cart Checkout Continue Shopping

    Sign In or Register

    Welcome Back!

    Login to your account below.


    Lost password?