An investment fund that used to own London's Gatwick Airport has struck a $4.63 billion deal to buy Bill Gates-backed private jet services firm Signature Aviation, trumping rival suitors private equity giants Blackstone and Carlyle.
By Reuters Staff
2 Min Read
(Reuters) - U.S. private equity firm Carlyle made a takeover approach for London-based Signature Aviation, setting the stage for a potential bidding war with Blackstone for the Bill Gates-backed company.
Signature Aviation confirmed the approach after a Sky News report here said earlier on Thursday that Carlyle had hired two Wall Street banks to help it explore a 3 billion pound ($4.07 billion) takeover offer for the company.
Signature Aviation, which is one-fifth owned by Gates’ Cascade Investment and provides full-service flight support and non-fuel services, said it had not yet received a proposal from Carlyle.