Atlas Air Worldwide to be acquired by Apollo investor group
Atlas Air Worldwide, a leading global provider of cargo and aviation operating services, is to be acquired by an investor group led by Apollo in a deal that values the…
Atlas Air Worldwide, a leading global provider of cargo and aviation operating services, is to be acquired by an investor group led by Apollo in a deal that values the company at $5.2 billion.
Upon completion of the transaction, Atlas Air Worldwide will become a privately held company and shares in Atlas Air Worldwide will no longer be listed on the Nasdaq stock exchange.
Atlas Air Worldwide will continue operating under the Atlas Air Worldwide name, be led by John Dietrich and the current executive team.
Long-term growth objectives
“We believe this transaction will deliver immediate and certain value to Atlas Air Worldwide shareholders at a substantial premium, and we are pleased to reach this agreement with the consortium,” said Duncan McNabb, Chairman of the Atlas Air Worldwide board of directors.
“The board’s decision to unanimously approve this transaction follows a careful evaluation and thoughtful review of value creation opportunities for shareholders.
“We believe this transaction is the right next step to maximise value for our shareholders and the best path forward to accelerate the company’s ability to execute its strategic plan and achieve its long-term growth objectives.”
Global leader in airfreight
“Over our 30-year history, Atlas Air Worldwide has grown to become a global leader in airfreight, delivering high-quality services to our diverse roster of customers around the world,” said John Dietrich, president and chief executive officer of Atlas Air Worldwide.
“Following the closing of the sale to the Consortium, we will seek to leverage their resources, relationships and industry expertise to build on our strong financial and operational performance. Their investment in our company demonstrates their confidence in our people and our culture as we serve the growing needs of the global supply chain.”
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