Blackstone, GIP Team Up For $4.7B Signature Aviation Bid

Law360, London (February 6, 2021, 1:48 AM GMT) -- A consortium led by Blackstone and Global Infrastructure Partners agreed to a $4.7 billion deal for Signature Aviation on Friday, ending a bidding war between the two investors for the British aviation service provider in a transaction led by four law firms.

The deal values Signature at nearly $4.73 billion and will see the group take the company private at $5.62 per share, an increase of roughly $100 million from GIP's bid last month and a 65% premium to the average price over the three months prior to Dec. 16.

The Blackstone entities in the deal are represented by Kirkland &...

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