Marfin Buys Flight Ambulance Stake

Marfin Investment Group has acquired a 49.9% shareholding in German executive jet operator Flight Ambulance International Rent – A – Jet Aktiengesellschaft (FAI), from Axtmann Beteiligungus GmbH, for €15m.

The deal gives MIG the right to up its stake to 51% for €2.5m during the course of the next two years.

Nuremberg-based FAI operates a fleet of seven Lear jets plus maintenance facilities and is one of the top five airlift companies in the world.

It anticipates generating ebitda of €6.5m on €26m in 2008.

Source: Thomson Merger News