|Macquarie to Buy SJJC Aviation|
Monday June 18, 6:10 pm ET
Macquarie Infrastructure to Acquire SJJC Aviation Services in Expansion of Mercury Air Deal
NEW YORK (AP) -- Macquarie Infrastructure Co., which provides fueling and aircraft storage services, said Monday it has agreed to acquire SJJC Aviation Services LLC.
SJJC Aviation Services LLC owns fixed base operations doing business as San Jose Jet Center and ACM Aviation, Macquarie said.
The deal is an expansion of the acquisition of Mercury Air Centers originally announced in April, the company said.
With the agreement to buy SJJC, Macquarie will acquire a total of 26 fixed base operations in the Mercury transaction. The total purchase price will be about $615 million, the company said.
In addition, Macquarie said it expects to spend $18 million for a new hangar. The deal is expected to close in the third quarter, the company said.