With the conclusion of its sale to a group of private investment firms, Signature Aviation is now under new ownership. A statement from the company noted it expects «there will be no immediate change to day-to-day operations and remain focused on delivering exceptional experiences to our valued customers and stakeholders.»
\nWithout any fanfare, the $4.7 billion sale of Signature Aviation to a consortium of private equity firms was completed last week. The groups\u2014Blackstone, Global Infrastructure Partners, and Cascade Investments\u2014combined to establish a jointly-owned company and issued the successful bid, which was approved by Signature Aviation\u2019s shareholders in late March. The purchase was officially sanctioned by a UK court on May 27.<\/p>\n
\u201cEffective June 1, Blackstone, Global Infrastructure Partners, and Cascade assumed ownership of Signature Aviation, which is now a privately held company no longer publicly traded on the London Stock Exchange,\u201d Signature said in a statement released to AIN. \u201cAll three companies have unmatched experience successfully investing across the aviation, transportation, infrastructure, and hospitality sectors. They are deeply committed to accelerating the growth of the Signature Aviation business while making a positive impact on our team, our customers, the environment, and the communities we serve.\u201d<\/p>\n
In January, Global Infrastructure Partners issued an offer of $4.6 billion to purchase Signature, which operates the world\u2019s largest FBO network with more than 200 locations globally. That prompted responses from Cascade, which handles the bulk of Microsoft co-founder Bill Gates\u2019s personal fortune and owned a nearly 20 percent stake in Signature, as well as from private equity group Blackstone Infrastructure Advisors and Blackstone Core Equity Management Associates, which had previously issued its own $4 billion offer, to combine forces to buy Signature.<\/p>\n
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Source: AIN<\/p>\n","protected":false},"excerpt":{"rendered":"
With the conclusion of its sale to a group of private investment firms, Signature Aviation is now under new ownership. A statement from the company noted it expects «there will be no immediate change to day-to-day operations and remain focused on delivering exceptional experiences to our valued customers and stakeholders.» Without any fanfare, the $4.7 billion sale of Signature Aviation to a consortium of private equity firms was completed last week. The groups\u2014Blackstone, Global Infrastructure Partners, and Cascade Investments\u2014combined to establish a jointly-owned company and issued the successful bid, which was approved by Signature Aviation\u2019s shareholders in late March. The purchase was officially sanctioned by a UK court on May 27. \u201cEffective June 1, Blackstone, Global Infrastructure Partners, and Cascade assumed ownership of Signature Aviation, which is now a privately held company no longer publicly traded on the London Stock Exchange,\u201d Signature said in a statement released to AIN. \u201cAll three companies have unmatched experience successfully investing across the aviation, transportation, infrastructure, and hospitality sectors. They are deeply committed to accelerating the growth of the Signature Aviation business while making a positive impact on our team, our customers, the environment, and the communities we serve.\u201d In January, Global Infrastructure Partners issued an offer of $4.6 billion to purchase Signature, which operates the world\u2019s largest FBO network with more than 200 locations globally. That prompted responses from Cascade, which handles the bulk of Microsoft co-founder Bill Gates\u2019s personal fortune and owned a nearly 20 percent stake in Signature, as well as from private equity group Blackstone Infrastructure Advisors and Blackstone Core Equity Management Associates, which had previously issued its own $4 billion offer, to combine forces to buy Signature. Source: AIN<\/p>\n","protected":false},"author":1,"featured_media":36542,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-36541","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-aircharter"],"yoast_head":"\n