Flight International online news 09:00 GMT: Equity firm Permira Funds yesterday signed an agreement with Swiss business aviation company Jet Aviation to acquire the majority shareholding of Hirschmann-Jet Aviation Group.
The deal is subject to antitrust clearance and is expected to be closed by the end of September 2005.
Permira managing director Thomas Krenz says: “Jet Aviation is an extremely well-positioned company and an attractive investment. We look forward to working with management and employees to continue the company’s success.”
Jet Aviation, with its worldwide headquarters in Zurich, employs more than 3,500 personnel in over 60 facilities and stations around the world. The company provides maintenance and engineering services and operates a charter fleet of more than 160 aircraft globally.
Both companies said further details about the transaction, including the transaction size, will not be disclosed.
Source: Flight International
