2017-12-19 10:25:24
Bain Capital purchases Trans Maldivian Airways
Bain Capital purchases Trans Maldivian Airways
Estimated time to read the article : 1 min, 14 secs
Bain Capital, has purchased Trans Maldivian Airways from Blackstone for $550 million.
According to sources, the two sides signed agreements over the weekend and plans to announce the acquisition during this week. Baine will invite Chinese conglomerate Tempus Group as a partner in managing the TMA fleet. Tempus Groups runs several businesses including Shenzhen Tempus Global Travel Holdings, a tour operator.
Sources say that once the transaction is complete Bain will own 90-95 percent of the company and other minor shareholders might exit or carry on with a small share.
Blackstone acquired Tans Maldivian Airways and Maldivian Air Taxi, two seaplane fleets in the Maldives in 2013 and merged the together to make the largest sea plane fleet in the world. The fleet has 48 crafts and carries 960,000 passengers in 120,000 flights annually.
It is estimated that Blackstone group invested around 115-129 million dollars in TMA.
According to sources, the two sides signed agreements over the weekend and plans to announce the acquisition during this week. Baine will invite Chinese conglomerate Tempus Group as a partner in managing the TMA fleet. Tempus Groups runs several businesses including Shenzhen Tempus Global Travel Holdings, a tour operator.
Sources say that once the transaction is complete Bain will own 90-95 percent of the company and other minor shareholders might exit or carry on with a small share.
Blackstone acquired Tans Maldivian Airways and Maldivian Air Taxi, two seaplane fleets in the Maldives in 2013 and merged the together to make the largest sea plane fleet in the world. The fleet has 48 crafts and carries 960,000 passengers in 120,000 flights annually.
It is estimated that Blackstone group invested around 115-129 million dollars in TMA.