MIG Aviation Holding sells stake in FAI rent-a-jet
FAI rent-a-jet has confirmed the exit of its Greek shareholder MIG Aviation Holding (a 100 % subsidiary of Marfin Investment Group).
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Siegfried Axtmann, FAI founder and chairman said: “I can confirm that MIG´s stake in FAI was acquired by MIG´s Co-Shareholder Axtmann Holding AG at a consideration of €25.2 million in cash and now again owns 100 % of FAI. Following a seven-year successful cooperation MIG decided to sell its stake in FAI for strategic reasons. In respect to the ongoing consolidation in General Aviation Business, FAI now is in a position to look into strategic partnerships. I am currently looking myself into one or other potential acquisitions in the near future.”
MIG announced the transaction in a public notification to the Athens Stock Exchange.
FAI is headquartered in Nuremberg, Germany and operates 21 jet aircraft. FAI has satellite offices in Dubai and Miami, as well as line stations in Baghdad, Kabul, Entebbe, Abidjan, Bamako and Dakar.