Apollo Infrastructure Funds Acquire Majority Stake In Modern Aviation; No Financial Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Apollo-managed infrastructure funds are set to acquire a majority stake in Modern Aviation, a fixed base operator platform serving various aviation segments. The current owner, Tiger Infrastructure Partners, and Modern Aviation's management team will reinvest alongside the Apollo Funds. The acquisition will bolster Modern Aviation's shareholder base to support future strategic growth initiatives. The transaction is subject to regulatory approvals and is expected to close by year-end. Financial terms were not disclosed.
November 02, 2023 | 9:34 pm
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Apollo's acquisition of a majority stake in Modern Aviation could potentially boost its portfolio and provide opportunities for strategic growth. The deal is expected to close by year-end.
Apollo's acquisition of Modern Aviation is a strategic move that could potentially enhance its portfolio and provide opportunities for growth. The reinvestment by Tiger Infrastructure Partners and Modern's management team alongside Apollo also indicates confidence in the deal. However, the deal is still subject to regulatory approvals and the financial terms were not disclosed, which could introduce some uncertainty.
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