A USD 3.1 billion acquisition
Air Transport Services Group, which leases medium widebody freighter aircraft and provides air transport operations and support services, has entered into a definitive agreement to be acquired by Stonepeak, an alternative investment firm specialising in infrastructure and real assets, in an all-cash transaction with an enterprise valuation of approximately USD 3.1 billion.
Under the terms of the definitive agreement, which was unanimously approved by ATSG’s board of directors, holders of ATSG’s common shares will receive USD22.50 per share in cash.
The purchase price represents a premium of approximately 29.3% over ATSG’s closing share price on 1 November 2024, the last full trading day prior to this announcement, and a 45.5% premium over ATSG’s volume-weighted average price (VWAP) over the prior ninety trading days. Upon completion of the transaction, ATSG's shares will no longer trade on Nasdaq, and ATSG will become a private company. (cj)