Wednesday, February 24, 2021
  • Contact
  • Privacy Policy
  • Terms & Conditions
Trends Wide
  • Home
  • News
  • Business
  • Lifestyle
  • Trending
  • Australia
  • Deals
  • Cryptocurrency
No Result
View All Result
Trends Wide
Home Economie

Global Infrastructure Partners to acquire Signature Aviation for £3.43 billion

souhaib by souhaib
January 11, 2021
in Economie
0


  • Global Infrastructure Partners to acquire Signature Aviation for £3.43 billion.
  • The deal translates to £4.07 per share in cash for Signature’s shareholders.
  • Signature Aviation plc had rejected GIP’s initial proposal in December.

Global Infrastructure Partners said on Monday that it struck a deal to acquire Signature Aviation plc (LON: SIG) for £3.43 billion. The investment fund trumped buyout proposals from rivals, including Carlyle and Blackstone.  

Signature’s spokesman commented on the news on Monday and said:


Are you looking for fast-news, hot-tips and market analysis?

Sign-up for the Invezz newsletter, today.

“Nothing precludes either Blackstone and Cascade or Carlyle from making an offer proposal that the board of Signature Aviation will consider.”

In separate news from the United Kingdom, EasyJet boosted liquidity with a new five-year £1.39 billion loan facility.

GIP’s offer translates to £4.07 per share in cash

Signature Aviation shares, that you can learn to buy online here, jumped more than 5% in premarket trading on Monday and gained another 5% on market open. At 440 pence per share, the stock is trading significantly higher than the low of 142 pence per share in March 2020 when the COVID-19 crisis weighed on the demand for air travel.

GIP’s offer translates to £4.07 per share in cash for Signature’s shareholders. In comparison, Blackstone had joined hands with Cascade Investment (Signature’s top shareholder) to propose a lower £3.83 per share instead.

Blackstone is yet to make an official statement in response to the news on Monday. Carlyle, on the other hand, has already refused to comment any further. Since December, when Signature made it public that it had multiple offers for a potential acquisition, its shares have gained over 60%.

Blackstone Group Inc. said in an announcement over the weekend that its head of tactical opportunities in Asia, Kishore Moorjani resigned after a tenure that spanned over nine years.

Signature had rejected GIP’s initial proposal in December

Signature had rejected the initial proposal from Global Infrastructure Partners in December. The aviation services firm had said that GIP’s offer was weaker than the sixth proposal from Blackstone. Blackstone had initially approached to acquire Signature in February 2020.  

Following the completion of the transaction, the investment fund is expected to delist Signature Aviation from the London Stock Exchange. Global Infrastructure Partners still owns Edinburgh Airport. It’s also a former owner of the London’s Gatwick Airport. But GIP handed over Gatwick’s control to France’s Vinci Airports in a deal in 2018.

Signature Aviation performed fairly upbeat in the stock market last year with an annual gain of more than 20%. At the time of writing, the British multinational has a market cap of £3.66 billion and a price to earnings ratio of 48.97.



Source link

Related posts

Aave (AAVE) price could explode again in March but the risk remains high

February 24, 2021

Lowe’s sales jump 26.7% to £14.36 billion in the fiscal fourth quarter.

February 24, 2021
Next Post

MAS: Removing the rubble of what Trump's policy has destroyed in the interest of Europe

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Estranged wife of Gladys Berejiklian’s disgraced ex-lover Daryl Maguire breaks her silence

3 months ago

Real Techniques Cruelty Free Miracle Body Complexion Sponge, Ideal for Highlighters, Bronzers, & Body Makeup, for Streak Free, Precise Makeup Application

5 months ago

Covid-19: ‘I’ll be hosting my Christmas over Zoom’

4 months ago

Sprinter Laura Whaler was left with $21,500 in traffic fines after breaking up with boyfriend

3 weeks ago

BROWSE BY CATEGORIES

  • Australia
  • Cryptocurrency
  • Culture
  • Deals
  • Discounts
  • Economie
  • Euro
  • Gaming
  • Lifestyle
  • News
  • Opinion
  • Sports
  • Switzerland
  • Trending
  • Uncategorized

BROWSE BY TOPICS

2018 League abc Australia Bali United bbc bbc health Budget Travel Champions League Chopper Bike cnn ar business dailymail dailymail australia dailymail heath dailymail money dailymail sport day 7 euronews Health https://lenews.ch/feed/ IGN Istana Negara Market Stories National Exam rt arabic usa today usa today money usa today sport Visit Bali Women Fashion

POPULAR NEWS

  • Watch .. Lebanese astronomer Michel Hayek reveals his predictions for the year 2021

    0 shares
    Share 0 Tweet 0
  • Help save a local business

    0 shares
    Share 0 Tweet 0
  • Love Insurance

    0 shares
    Share 0 Tweet 0
  • 5 places to visit in Microsoft Flight Simulator 2020.

    0 shares
    Share 0 Tweet 0
  • Reece Parkinson: A shock diagnosis won’t stop me running

    0 shares
    Share 0 Tweet 0

Follow us on social media:

Recent News

  • DAVID JONES: Tiger Woods is a genius whose life has been one long car crash
  • A “missile” goal in a deadly time gives Real Madrid victory over Atlanta in the Champions League (video)
  • Queensland unlikely to see big-ticket infrastructure for 2032 Olympics

Category

  • Australia
  • Cryptocurrency
  • Culture
  • Deals
  • Discounts
  • Economie
  • Euro
  • Gaming
  • Lifestyle
  • News
  • Opinion
  • Sports
  • Switzerland
  • Trending
  • Uncategorized

Recent News

DAVID JONES: Tiger Woods is a genius whose life has been one long car crash

February 24, 2021

A “missile” goal in a deadly time gives Real Madrid victory over Atlanta in the Champions League (video)

February 24, 2021
  • Contact
  • Privacy Policy
  • Terms & Conditions

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • Home
  • News
  • Business
  • Culture
  • National
  • Sports
  • Lifestyle
  • Opinion

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.