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HSBC Bank US becomes lender for Brown in relation to Signature buy

Wed, 07th Apr 2021 17:51

(Alliance News) - Brown Bidco Ltd on Wednesday said HSBC Bank US, National Association agreed to become a lender in relation to its Signature Aviation PLC acquisition.

Back in February, Brown Bidco and Signature Aviation had reached agreement on a recommended cash acquisition by Bidco of the entire issued and to be issued share capital of Signature Aviation.

Brown Bidco is a newly formed company indirectly owned by Blackstone Infrastructure, Blackstone Core Equity, Global Infrastructure Partners and Cascade Investment LLC.

The offer values the aviation services company headquartered in London at USD4.73 billion, about GBP3.46 billion.

Signature shares closed 1.2% higher in London on Wednesday at 406.00 pence each.

By Evelina Grecenko; evelinagrecenko@alliancenews.com

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