BBA Avi­a­tion to ac­quire Car­lyle’s Land­mark

China Daily (Canada) - - TORONTO -

BBA Avi­a­tion Plc agreed to buy Car­lyle Group LP’s Land­mark Avi­a­tion for $2.07 bil­lion to ex­pand in-flight ser­vices for busi­ness and gen­eral avi­a­tion. BBA will sell 748 mil­lion pounds ($1.15 bil­lion) of stock to cur­rent in­vestors at 133 pence a share to help fund the pur­chase, the Lon­don-based com­pany said in a state­ment onWed­nes­day. The Land­mark Avi­a­tion pur­chase adds 68 lo­ca­tions, in­clud­ing 64 in North Amer­ica and four in Europe, and col­lec­tive spend­ing re­duc­tions will amount to $35 mil­lion a year, BBA said.

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