The deal, announced on Friday, which is subject to approval by the Jersey Competition Regulatory Authority, will bring the Island company under the umbrella of a stock exchange-listed company with offices and facilities as far afield as Hong Kong, America and the United Arab Emirates.
Aviation Beauport has been in existence since 1969 and is the only private charter aircraft service in the Channel Islands, also providing aircraft management and handling. The chairman, Mike Bell, has owned the company since 1984.
No one was available to comment on the buy-out this morning, but in a statement, Mr Bell said: ‘The industry is becoming dominated by fewer but larger players and Gama is at the forefront of that expansion, and it seemed logical to work with one of the most respected and progressive players in the industry.’
The terms of the deal include £2.6 million in cash and the issue of one million ordinary shares based on Gama’s closing price on 7 January.
