AIRLINE INDUSTRY INFORMATION-©1997-2007 M2 COMMUNICATIONS LTD
Macquarie Infrastructure Company (MIC) (NYSE: MIC), a player in the ownership and operation of infrastructure businesses in the US, on 18 June entered into a definitive agreement to acquire the company that operates the fixed base operations (FBOs) at Mineta San Jose International Airport in San Jose, California. SJJC Aviation Services LLC owns fixed base operations doing business as San Jose Jet Centre and ACM Aviation. SJJC Aviation Services LLC will be acquired by Macquarie Infrastructure company in an expansion of the acquisition of Mercury Air Centers announced on 19 April 2007. With the acquisition agreement, MIC will acquire a total of 26 FBOs in the Mercury transaction. The total purchase price, including all fees, expenses, debt service reserves and pre-funded integration costs, will be approximately USD615.0m. Further, the company intends to commit to an additional approximately USD18.0m of growth related capital expenditures for a new hangar. The transaction is expected to close in Q3 2007. According to MIC, it will fund a portion of the expanded acquisition with a two-year bridge facility of USD80.0m guaranteed by its airport services holding company, Macquarie FBO Holdings. The balance will be funded with proceeds from MIC's existing acquisition-related revolving credit facility.
(Comments on this story may be sent to firstname.lastname@example.org)
News stories provided by third parties are not edited by "Site Publication" staff. For suggestions and comments, please click the Contact link at the bottom of this page.