Cairo – Mubasher: The Egyptian billionaire Nassef Sawiris plans to accept an offer worth $4.7 billion for the acquisition of Signature Aviation Plc, Bloomberg reported on Monday.
The third-largest shareholder NNS, the investment vehicle of Sawiris, plans to offload its 7.42% stake to a bidding consortium led by Blackstone Group Inc. and Global Infrastructure Partners (GIP), according to the international news agency.
This step helps end a months-long fight for control of the biggest operator of private-jet bases.
Earlier in February, competing bidders GIP and Blackstone partnered and raised their acquisition offer to $5.62 per share.
The offer submitted by GIP and Blackstone, which has been supported by the largest shareholder Bill Gates, will most probably be the winning bid.
