Twitter LinkedIn
    Saturday, February 4
    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»Uncategorized»Macquarie Infrastructure Corporation Announces Agreement to Sell Atlantic Aviation to KKR for $4.475 Billion
    Uncategorized

    Macquarie Infrastructure Corporation Announces Agreement to Sell Atlantic Aviation to KKR for $4.475 Billion

    June 7, 20212 Mins Read
    LinkedIn Facebook Twitter Email WhatsApp
    Share
    LinkedIn Facebook Twitter Email WhatsApp

    Macquarie Infrastructure Corporation (NYSE: MIC) and KKR today announced the signing of a definitive agreement for MIC to sell its Atlantic Aviation business to KKR for $4.475 billion in cash and assumed debt and reorganization obligations. Atlantic Aviation operates one of the largest networks of fixed base operations (FBOs) in the U.S. providing a full suite of critical services to the private aviation sector.

    The transaction is expected to close in the fourth quarter of 2021.

    MIC expects to receive $3.525 billion at closing following the reorganization of MIC into a limited liability company, Macquarie Infrastructure Holdings LLC (“MIH”). The reorganization was approved by MIC shareholders on May 6, 2021 and is expected be completed shortly before the closing of the Atlantic Aviation sale.

    The Atlantic Aviation sale is expected to result in cash proceeds of approximately $3.298 billion being available for distribution to unitholders after a disposition payment by MIH to MIC’s external manager of approximately $227 million. The disposition payment was calculated in accordance with the Disposition Agreement entered into by and between MIC and the Company’s external manager on October 30, 2019. The MIH board of directors is expected to authorize a cash distribution of approximately $37.35 per unit following closing of the transaction.

    Read more/Source: KKR media

    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.

    Aviation Deals Transactions KKR peinsider Private Equity
    Share. LinkedIn Facebook Twitter Email WhatsApp

    Related Posts

    Euroclear moves into $9.8 trillion private asset market with Goji buy

    December 21, 2022

    Recent Rule Changes Spark New Wave of Private Equity Ownership in Pro Sports

    November 29, 2022

    CAI raises over $1B for inaugural fund and co-investment programme

    November 18, 2022

    KKR looking to sell Canadian gas producer Westbrick for $1.13B

    November 18, 2022

    Comments are closed.

    Other Articles

    KKR’s $44B Fundraising Broke Record In 2020 As Deals Boom

    February 14, 2021

    Investec sells Australian $913 mln acquisition finance loan-book to Metrics

    March 26, 2021

    Palamon partners with IDH management in take out of Carlyle

    May 28, 2021

    Toshiba chairman issues cautious statement on CVC’s take-private offer

    April 9, 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?