![]() We believe that the offer from Blackstone, GIP and Cascade represents an attractive and certain value in cash today for Signature shareholders reflecting the high quality of the business and its network, its people and its future prospects, and at a higher price than the previous GIP offer announced on 11 January 2021. The resilient performance and strong financial position through the pandemic has enabled the Signature Board to consider its future and evaluate this offer from a position of strength. ![]() Furthermore, the Consortium is equipped with the appropriate through-cycle, long-term investment horizon, expertise and capital required to help Signature deliver its long-term potential.Ĭommenting on the Acquisition Sir Nigel Rudd, the Chairman of Signature, said: ““Over recent years, the management of Signature has created a leading global private aviation support services business, whilst streamlining the group to maximise value for shareholders. As operationally focused investors with significant relevant experience, the Consortium intends to support Signature to develop a stronger and more customer-focused business. The Consortium is excited to partner with Signature to continue developing the business through investing in the customer offering and future growth of its footprint, both through organic growth and targeted, bolt-on acquisitions. These are all characteristics consistent with the investment mandates of the Consortium’s investors. ![]() The Consortium believes that Signature is a high-quality business with a long-standing position as a leader in the provision of aviation services, an attractive long-term asset base, a group of dedicated and experienced employees and management, and a highly-valued customer brand and network. The recommended offer values the entire issued and to be issued share capital of Signature at approximately $4,727 million, equivalent to £3,460 million, representing an approximately 53 per cent premium to the closing price of 268 pence per share on 16 December 2020 and an approximately 65 per cent premium to the volume-weighted average price per share for the three-month period ended 16 December 2020. The recommended offer is made by the Consortium at a price of $5.62 per share in cash, for the entire issued and to be issued share capital of Signature not owned by Cascade and the Bill & Melinda Gates Foundation Trust (“BMGFT”). London, 5 February 2021 – Blackstone Infrastructure Partners, Blackstone Core Private Equity, Cascade and Global Infrastructure Partners (together, the “Consortium”) today announced the terms of a recommended offer for Signature Aviation plc (“Signature”). The Sterling equivalent value being 411 pence per share representing an approximate 53 per cent premium to the closing price of 268 pence per share on 16 December 2020 – Recommended offer price of $5.62 per share. ![]() ![]() NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION Individual Investors & Financial Advisorsīlackstone, Cascade and Global Infrastructure Partners Announce Terms of a Recommended Offer for Signature Aviation plc.Financial Advisors, visit our dedicated website to learn how you can partner with Blackstone. ![]()
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