Sabtu, 30 April 2016

Betaville

Betaville

Mounties pension fund said to be sniffing around BBA Aviation - part 2

Posted: 29 Apr 2016 09:41 AM PDT

Readers might be wondering what has happened to the potential bid for London-listed BBA Aviation that I wrote about a couple of months ago.

In case you don't recall, back in early March I revealed that PSP Investments, a pension fund that looks after money for the Canadian mounted police, had been talking to potential partners about launching a bid for BBA Aviation, the aviation services company. Here is the link:

http://betaville123.blogspot.co.uk/2016/03/mounties-pension-fund-said-to-be.html

I did, however, warn readers in that piece that the article might scare off PSP.

Well, I'm not sure PSP have been scared off altogether but well-placed sources have indicated to me the whole thing has been put on the back burner.

Don't underestimate PSP's interest, though. Apparently, the massive pension fund is primarily interested in getting hold Landmark Aviation, which BBA Aviation bought last year for $2 billion.

This is because PSP has similar investments to Landmark and was the losing underbidder to BBA Aviation in last year's Landmark Aviation auction, which was carried out by private equity firm Carlyle.
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