Milbank LLP represented the financing sources in connection with the debt commitments to finance Air Transport Services Group, Inc.’s (“ATSG”) (NASDAQ:ATSG) definitive agreement to be acquired by infrastructure alternative investment firm Stonepeak for $22.50 per common share, representing an enterprise value of approximately $3.1 billion. The transaction is expected to close in the first half of 2025, subject to customary closing conditions and approvals.
ATSG is a provider of medium widebody freighter aircraft leasing and cargo and passenger air transportation solutions for both domestic and international air carriers, as well as companies seeking outsourced airlift services. Following the completion of the transaction, ATSG will become a private company and its shares will no longer trade on NASDAQ.
The Milbank team was led by New York-based Global Leveraged Finance partners Marcus Dougherty, George Zhang and Benjamin Sayagh.
