MacBank still flying in the US
(4 May 2004 – USA) Macquarie Bank is set to purchase US airport services company Executive Air Support for A$324 million.
The company runs Atlantic Aviation and operates 10 businesses across the US providing services such as refuelling, maintenance and hangar rental.
Macquarie chief financial officer Greg Ward said the business was well managed and offered good growth prospects. He said the bank may consider transferring it to one of Macquarie’s managed funds or other companies.
Ward said the impact of the purchase on the bank’s profit, once costs were taken out, would be negligible.
Last week, Macquarie announced it was setting up a A$214 million fund in Canada to target the North American power generation sector.
Macquarie chief financial officer Greg Ward said the business was well managed and offered good growth prospects. He said the bank may consider transferring it to one of Macquarie’s managed funds or other companies.
Ward said the impact of the purchase on the bank’s profit, once costs were taken out, would be negligible.
Last week, Macquarie announced it was setting up a A$214 million fund in Canada to target the North American power generation sector.
Subscribe