BBA Aviation to acquire Carlyle’s Landmark for $2.1b

London: BBA Aviation Plc agreed to buy Carlyle Group LP’s Landmark Aviation for $2.07 billion (Dh7.6 billion) to expand in flight services for business and general aviation. BBA will sell £748 million ($1.15 billion) of stock to current investors at 133 pence a share to help fund the purchase, the London-based company said in a statement Wednesday. That compares with Tuesday’s closing price of 284.7 pence. The deal will boost earnings per share by 2017, BBA said. The company’s Signature Flight Support division provides airport services such as refuelling and ground handling to private, business and commercial jets. The Landmark Aviation purchase adds 68 locations, including 64 in North America and four in Europe, and spending reductions from combining the companies will amount to $35 million a year, BBA said.