Alec Wilson
Back in December it became known that similar negotiations are conducted by the Blackstone investment fund. Now that Cascade has joined it, they want to buy Signature Aviation together.
According to a statement from the companies, talks are at an advanced stage. Blackstone and Cascade are offering $5.2 per share for Signature Aviation, bringing the total value of the deal to $4.3 billion. Cascade already owns 19% of the company.
If the deal is successful, it will increase its stake to 30% and Blackstone will hold the remaining 70%. In addition to Blackstone and Cascade, investment funds Carlyle Group and Global Infrastructure Partners are among the potential buyers of Signature Aviation.
Signature Aviation is the operator of private jet flights at several hundred airports around the world, serving about 1.6 million business jets a year.
In 2020, the private air travel market was much less affected than the aviation industry as a whole, as a dramatic drop in the number of conventional flights and the insecurity of such flights in terms of the likelihood of contagion contributed to the popularity of private flights among the wealthy.
source: reuters.com
According to a statement from the companies, talks are at an advanced stage. Blackstone and Cascade are offering $5.2 per share for Signature Aviation, bringing the total value of the deal to $4.3 billion. Cascade already owns 19% of the company.
If the deal is successful, it will increase its stake to 30% and Blackstone will hold the remaining 70%. In addition to Blackstone and Cascade, investment funds Carlyle Group and Global Infrastructure Partners are among the potential buyers of Signature Aviation.
Signature Aviation is the operator of private jet flights at several hundred airports around the world, serving about 1.6 million business jets a year.
In 2020, the private air travel market was much less affected than the aviation industry as a whole, as a dramatic drop in the number of conventional flights and the insecurity of such flights in terms of the likelihood of contagion contributed to the popularity of private flights among the wealthy.
source: reuters.com
