The sale of Atlas Air to numerous American equity firms was announced to be over after the company had successfully completed all regulatory procedures (US).
The business, which provides Aircraft, Crew, Maintenance and Insurance (ACMI), CMI, and charter services, has completed all the legal requirements to close its acquisition by funds linked to Apollo Global Management, J.F. Lehman & Company, Hill City Capital, and Rand Merger Sub.
At the end of the procedure, Atlas Air will combine with Rand Parent, a US firm with headquarters in Delaware, with the airline’s entity continuing as the subsidiary.
On or around March 17, 2023, according to Atlas Air’s filing, “subject to the satisfaction or waiver of the remaining closing conditions,” the merger will be completed.
On August 4, 2022, Atlas Air said it had signed a selling agreement with a group of investors led by Apollo Management for an all-cash transaction valued at about $5.2 billion, which marked the start of the takeover process. Following the merger, the operator would become privately held, paying its stockholders $102.50 per share in cash, a 57% premium over the 30-day volume-weighted average trading price as of July 29, 2022.
At the time of writing, on March 14, 2023, Atlas Air stock closed at $99.30, and on March 15, 2023, pre-market trading saw a rise to $102.46.
The business had $4.5 billion in sales in 2022 and made a net profit of $355.9 million.
As of December 31, 2022, Atlas Air operates 25 aircraft provided by other firms in addition to its 87 own aircraft. The business, which will get the final Boeing 747 on January 31, 2023, is the largest 747 operator in the world.
