Stockholders of Air Transport Services Group (ATSG), a global widebody freighter lessor and cargo and passenger charter/ACMI specialist, have approved the company's merger into Stonepeak, a New York-based infrastructure investment firm with about USD72 billion worth of assets under management.
Pending regulatory approvals and customary closing conditions, the transaction is expected to close in the first half of 2025. ATSG also owns cargo carriers ABX Air and ATI - Air Transport International and passenger charter carrier Omni Air International.
Under the deal, which was proposed three months ago, ATSG shareholders will receive USD22.50 per share in cash. Once completed, ATSG will become a privately held company and its shares will be delisted from the NASDAQ stock market and deregistered under the Securities Exchange Act.
The agreement was approved at a shareholders' meeting on February 10. It involves the merger of ATSG with Stonepeak Nile MergerCo, a subsidiary of Stonepeak Nile Parent LLC, after which ATSG will become a wholly-owned subsidiary of Stonepeak.
ATSG's freighter fleet includes B767s, A321s, and soon A330 converted freighters. Subsidiaries ABX Air, Omni, and ATI are US FAA Part 121-certified airlines that provide cargo and passenger ACMI and charter services. Other subsidiaries include Global Solutions, Airborne Maintenance and Engineering Services (including Pemco World Air Services), Cargo Aircraft Management, and LGSTX Services.
