Vista Global Holding finalised the takeover of XOJET Aviation (XOJ, Fort Lauderdale Executive) by the end of 2018, Private Jet Card Comparisons has reported.
The business charter holding confirmed the transaction but did not go into any details.
Bloomberg previously reported that the value of the transaction, financed by JP Morgan Chase Bank, decreased during the negotiations from the initial USD280 million to USD210 million.
Vista Global was established in 2018 as a Dubai-based holding controlling VistaJet (Malta) (VJT, Malta International), VistaJet (China) (Nantong), Vista Lease (a global aircraft leasing and financing company for client-dedicated aircraft solutions), and TechX (an aviation technology firm offering end-to-end solutions for both customers and operators). The initiative had been backed by a USD200 million investment from global private equity firm Rhône Group.
XOJET operates an own fleet of forty-three Bombardier Aerospace Challenger and Cessna Citation jets. It also acts as an intermediary for over 1,500 business jets from third-party providers.
