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Onex Corp Completes Investments In BBAM And FLY Leasing Limited

Wednesday, 2 Jan 2013 09:00am EST 

Onex Corp announced that it has completed the acquisition of a 50% interest in BBAM, the manager of commercial jet aircraft, for $165 million. Onex and BBAM's management team also completed the purchase of $25 million of newly issued shares of FLY Leasing Limited (FLY) , a global lessor of commercial jet aircraft managed by BBAM. Including this investment and the BBAM management team's existing stake, Onex and management will own approximately 11% of FLY. As part of the transaction, Onex and management's investment in FLY will become subject to a long-term lock-up agreement. In total, Onex Partners III invested $185 million, of which Onex' share was $47 million as a limited partner in the Fund. 

Company Quote

-0.51 -0.82%
22 Sep 2014