Macquarie Modifies Mercury Bid, Adds Two SJC FBOs

AINalerts » June 19, 2007
June 19, 2007, 11:44 AM

In an 8-K filing with the U.S. Securities and Exchange Commission filed on June 12, Macquarie Infrastructure revealed that it is adding two FBOs at Norman Mineta San Jose International Airport (SJC) in Northern California to its acquisition of the Mercury Air Centers FBO chain. FBOs San Jose Jet Center and ACM Aviation are owned by the same company, and the deal calls for Mercury to buy the two San Jose FBOs, followed by Macquarie’s purchase of the Mercury chain. If all goes as planned, Macquarie will add 26 FBOs to its existing Atlantic Aviation FBO chain. If the Mercury acquisition doesn’t go through by November 1, Mercury will still have to turn over the two San Jose FBOs to a Macquarie Infrastructure subsidiary. This new agreement brings the total price for the Mercury and San Jose FBO acquisition to $615 million, or an average of about $23 million per facility.

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