Blackstone muscles in on £3 5bn Signature Aviation takeover pressandjournal.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pressandjournal.co.uk Daily Mail and Mail on Sunday newspapers.
Signature Aviation, which provided parts for the Spitfire and Hurricane aircraft during Second World War when it was a manufacturer, has agreed to a takeover by a consortium that includes Bill Gates investment firm.
Private equity giant Blackstone and Edinburgh Airport owner Global Infrastructure Partners (GIP) have joined forces with Cascade Investments to take the London-based aviation services firm private in a $4.7billion (£3.5billion) deal.
Investors are being offered 411p per share, which is 53 per cent higher than Signature s share price on December 16, the day before it confirmed that it was in discussions with Blackstone and GIP over a possible acquisition.
Analysis
Although the United States has failed to sell the idea of leasing its airport terminals to the private sector over almost 25 years since the first airport privatisation programme was initiated, various events have made the public-private initiative (PPP OR P3) more popular with municipal owners.
Now the P3 is shifting into other areas of operation, with people movers and consolidated car rental facilities top of the list.
Based on some short articles by the Reason Foundation, this CAPA report examines various examples, including a groundbreaking financial deal in New York, and also where this movement might go next.
Summary