Blackstone secures Bill Gates support in bidding war for Signature Aviation

posted on 8th January 2021 by Parveen Raja
Blackstone secures Bill Gates support in bidding war for Signature Aviation

By Millie Turner, cityam.com

The Blackstone Group has the support of a big-name backer – Bill Gates- the largest shareholder in Signature Aviation, strengthening the firms bid to buy the private-jet servicing company.

The support comes in opposition to rival bidder Carlyle and strengthens Blackstone’s $4.29bn (£3.16bn) offer alongside Gates’ Cascade Investment.

Blackstone and Cascade, which own a near 20 per cent stake in the London-based aviation company formerly known as BBA Aviation, are in late-stage talks regarding a cash offer proposal of £3.81 per share.