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Former Gatwick owner joins Blackstone, Cascade for Signature Aviation bid

· 02/05/2021 02:32
Former Gatwick owner joins Blackstone, Cascade for Signature Aviation bid

- The former owner of London's Gatwick Airport has joined forces with Blackstone and Bill Gates' Cascade to bid for Signature Aviation SIGSI.L in an offer valuing the private jet services firm at $4.73 billion, the companies said on Friday.

The cash offer of $5.62 is to buy all of Signature's shares other than the 19.01% owned by or controlled by Cascade and the Bill & Melinda Gates Foundation Trust.

The new offer is more than what Global Infrastructure Partners (GIP), which still manages a 49.99% stake in Gatwick, single handedly offered last month.


(Reporting by Yadarisa Shabong in Bengaluru; Editing by Devika Syamnath)

((Yadarisa.Shabong@thomsonreuters.com; Twitter: https://twitter.com/Yadarisa; +919742735150;))