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Macquarie Infrastructure Company LLC's atlantic aviation announces signing of agreement to acquire fixed base operations from galaxy aviation

12/12/2013 | Reuters

Macquarie Infrastructure Company LLC:Says its Atlantic Aviation business has entered into an agreement.Says this to acquire certain of the assets of Galaxy Aviation, including substantially all of the assets of five fixed base operations (FBOs) and one new hangar that is under construction at one of the five airports at which the FBOs operate, for $195.0 million.

Says it expects the acquisition to be immediately accretive to proportionately combined free cash flow.Says MIC expects to fund the acquisition using a combination of cash on hand, a draw on a credit facility of its Atlantic Aviation subsidiary and proceeds from an equity offering launched this morning.Says transaction is expected to close in the first quarter of 2014.

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