Blackstone, Bill Gates' Cascade join hands for Signature Aviation bid

Blackstone, Bill Gates' Cascade join hands for Signature Aviation bid

© Reuters.  © Reuters.

(Reuters) – Blackstone Group (NYSE:BX) Inc on Friday pushed ahead with its proposal to buy out Signature Aviation in a deal worth $4.29 billion, securing the support of the private jet servicing company's biggest shareholder Bill Gates' Cascade Investment.

Blackstone and Cascade, which owns a 20% stake in the company, is in exclusive talks with the London-based company about a joint proposal, which would involve a cash offer of $5.17 per share, Blackstone said.

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