PHOTO
A global consortium of investors led by Singapore-based private equity company RRJ Capital has agreed to invest $600 million in Dubai-based private jet firm Vista.
The investment will optimise Vista’s capital structure, improve free cash flow generation and cut debt.
The transaction is scheduled to close before the end of this month. UBS and Jefferies acted as financial advisors to RRJ Capital and Vista, respectively, in the transaction.
“With over 20 years of industry innovation, and a global presence across all markets, this strategic investment in Vista marks an exciting new chapter in our shared journey,” said Richard Ong, Founder and CEO of RRJ Capital and former president of Goldman Sachs Singapore.
One of Vista’s subsidiaries is VistaJet, which offers customers access to more than 300 super-midsize, long-range aircraft.
(Writing by Cleofe Maceda; editing by Seban Scaria)
