AIR.L Regulatory News (AIR)

6 Sep 2007 12:04

Air Partner PLC06 September 2007 Air Partner PLC ("Air Partner" or "the Group") AIR PARTNER ACQUIRES OUTSTANDING MINORITIES IN ITS FRENCH SUBSIDIARY Air Partner, the provider of private aviation services to industry, commerce,governments and private individuals worldwide, is pleased to announce that ithas acquired the outstanding minority shares in its French subsidiary businesswhich it did not previously own. Air Partner acquired the 45% share holding with immediate effect for a totalconsideration of €1.38m (£935,000). The transaction will be satisfied in cashfrom the Group's existing cash resources and Air Partner expects the acquisitionto be earnings enhancing. The shares have been purchased from former director Claude Giunta. Mr Giuntastood down from the French business in 2001 and has not been involved in the dayto day activities since this date. Air Partner has historically reported the French subsidiary results on a fullyconsolidated basis. In the 12 months to 31 July 2006 Air Partner's Frenchsubsidiary reported profit before tax of £554,000. - ends - 6th September 2007 ENQUIRIES: Air Partner PLC Tel: 01293 844 805 David Savile, Chief Executive Temple Bar Advisory Tel: 0207 002 1080 Tom Allison Tel: 0778 999 8020 Notes to editors: please ensure "Air Partner" is written in its correct singularform, not in the plural. This information is provided by RNS The company news service from the London Stock Exchange