Vista Global Acquires XOJET Fleet, Commercial Operations

Dubai, UAE-based aviation group Vista Global has acquired the business aviation fleet and commercial operations of California, US-based private aviation platform XOJET, the company said.

Terms of the transaction were not disclosed.

Completion of the transaction is subject to customary closing conditions. There is no financing condition to the transaction. The transaction is currently expected to close in the fourth quarter of 2018. XOJET´s regulated air carrier will be operated in a joint venture under US control and leadership, in accordance with US Department of Transportation criteria.

XOJET´s regulated air carrier will continue to be independently operated in a joint venture under US control and leadership, in accordance with US Department of Transportation criteria.

XOJET´s four distinct membership programmes serve the whole spectrum of business aviation needs on its owned fleet, whilst also providing its customers with additional flexible off-fleet alternatives. All of XOJET´s products are asset lite, a business model which is fully aligned with prevailing global macro trends and preferred by both corporates and UHNWIs.

Jefferies LLC is serving as exclusive financial advisor and Latham and Watkins LLP as principal legal advisor to Vista Global. Perella Weinberg Partners is acting as exclusive financial advisor to Mubadala Investment Company and White and Case LLP is serving as principal legal advisor to Mubadala. acquisition financing with non-recourse to the other three Vista Global businesses has been provided under the lead of J.P. Morgan, with Jefferies LLC.

XOJET´s fleet and commercial offerings (other than the US controlled air carrier) will join Vista Global, the world´s most comprehensive business aviation group.

Vista Global Holding is a leader in business flight solutions. Vista Global integrates a unique portfolio of companies offering asset lite solutions to cover all key aspects of business aviation: guaranteed and on demand global flight coverage; aircraft leasing and finance; and cutting edge aviation technology.