30th Jun 2016 13:20
LONDON (Alliance News) - BBA Aviation PLC Thursday said it has completed the sale of six fixed-based operations for USD190.0 million after securing airport consents and approval from the US Department of Justice.
BBA struck the deal in late March, selling the businesses to KSL Capital Partners LLC, which has partnered on the acquisition with Jeffrey Ross, the former president and chief executive of Ross Aviation.
The sites sold are based in New York, Virginia, Arizona, Alaska and two in California.
BBA struck a deal to buy Landmark Aviation, its US peer, in September for USD2.07 billion, and sold the six operations under the regulatory remedies required to secure approval for the acquisition
BBA shares were up 0.3% to 221.60 pence per share on Thursday.
By Joshua Warner; [email protected]; @JoshAlliance
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