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BRIEF-AeroCentury agrees to acquire JetFleet Holding
October 31, 2017 / 1:15 PM / a month ago

BRIEF-AeroCentury agrees to acquire JetFleet Holding

Oct 31 (Reuters) - AeroCentury Corp

* AeroCentury Corp. Signs agreement to acquire JetFleet Holding Corp.

* AeroCentury Corp - ‍once acquisition is consummated, JHC will become a wholly-owned subsidiary of company​

* AeroCentury Corp - “‍independent members of AeroCentury’s board of directors were unanimous in their support for acquisition”​

* AeroCentury Corp- ‍under merger agreement, JHC shareholders are to receive $3.5 million in cash and 129,286 shares of co’s common stock

* AeroCentury-For accounting purposes,expects to record settlement loss related to obligations under management agreement with JMC at time of acquisition

* AeroCentury - ‍believes acquisition provides potential for co to lower its overall management costs, “thus be accretive to shareholders in long term”​ Source text for Eikon: Further company coverage:

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