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PAI COMPLETES FLIGHTCARE PURCHASE TO FCC BY €150 MILLION.
The private equity firm PAI Partners has completed the acquisition of Flightcare to FCC, which it will integrate in Swissport.
The transaction was closed for about €150 million, to be financed through an approximately €100 million bond issue by Swissport, which was acquired by PAI to Ferrovial in 2011 in one of largest transactions in that year (see news) .
Flightcare is the fifth global industry group with presence in thirteen Spanish airports, among which are the Madrid-Barajas and El Prat in Barcelona, Italy and Belgium. The company bills €239 million annual.
BofA Merrill Lynch has advised FCC in the transaction.