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Global Infrastructure Partners wins race to buy Signature Aviation

The private jet servicing group has been the subject of a bidding war
Global Infrastructure Partners wins race to buy Signature Aviation
  • Global Infrastructure Partners is offering Signature shareholders 550¢ per share
  • It has outbid Blackstone which teamed up with Bill Gates’ asset manager Cascade

Signature Aviation's (SIG) shares have taken flight over the past month as it became the subject of a bidding war. It has now agreed to a 550¢ (405p) per share all-cash takeover offer from Global Infrastructure Partners (GIP), which owns stakes in Gatwick Airport and the Hornsea 1 offshore wind farm. Valuing the aviation services company at $4.6bn (£3.4bn), GIP’s bid represents a 51 per cent premium to Signature’s closing price on 16 December.

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