IN BRIEF: Air Partner takeover by US's Wheels Up becomes effective

Air Partner PLC - Gatwick, England-based aviation services firm - Takeover offer from Wheels Up Experience Inc, worth GBP84.8 million, becomes effective after scheme of arrangement is approved by court. Air Partner board resigns and shares are suspended from trading on the London Main Market on Friday. The stock will be cancelled on Monday. Wheels Up, a New York-based provider of on-demand private aviation in the US, is paying 125 pence per share in cash. Wheels Up, which has a USD760 million market capitalisation on the New York Stock Exchange, had said back in January it wants to use Air Partner to accelerate its market expansion globally.

Current stock price: 124.50p before suspension

12-month change: up 84%

By Tom Waite; thomaslwaite@alliancenews.com

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