LONDON (Alliance News) - BBA Aviation PLC on Wednesday said it has received regulatory clearance for its acquisition of Landmark Aviation from the US Department of Justice.
The aviation services provider struck a deal to buy Landmark in September for USD2.07 billion, and on Wednesday said completion is expected to occur shortly.
Under the terms of the regulatory approval, BBA must sell six fixed based operations at Westchester County Airport, New York; Washington Dulles International Airport, Virginia; Scottsdale Airport, Arizona; Ted Stevens Anchorage International Airport, Alaska; Jacqueline Cochran Regional Airport, California; and part of the Landmark facilities at Fresno Yosemite International Airport.
"We are pleased with this positive result from the Department of Justice review process and to have received approval to complete the acquisition of Landmark Aviation, which materially enhances the underlying quality, growth and value creation prospects of the group, and represents a major expansion of our market-leading Signature FBO business," Chief Executive Simon Pryce said in a statement.
Shares in BBA Aviation closed down 1.6% at 157.41 pence on Wednesday.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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