Business

Global Infrastructure Partners to buy Signature Aviation for US$4.63 billion

The co-owner of London's Gatwick Airport, Global Infrastructure Partners, clinched a US$4.63 billion deal to buy British private jet servicing company Signature Aviation on Monday, trumping private equity giants Blackstone and Carlyle.

FILE PHOTO: General view of an entrance to the check-in area at Gatwick Airport, in Gatwick
FILE PHOTO: A general view of an entrance to the check-in area at Gatwick Airport, as travel restrictions are eased following the coronavirus disease (COVID-19) outbreak, in Gatwick, Britain July 10, 2020. REUTERS/Toby Melville
(Updated: )

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REUTERS: Global Infrastructure Partners, the former owner of London's Gatwick Airport, said on Monday that it reached an agreement to buy London-based Signature Aviation for about US$4.63 billion, trumping an approach from Blackstone Group.

Blackstone said last Friday it had won the support of Signature's biggest shareholder Bill Gates for a possible US$4.3 billion bid.

(Corrects to add dropped word "former" in paragraph 1)

(Reporting by Indranil Sarkar in Bengaluru; Editing by Saumyadeb Chakrabarty)

Source: Reuters