Atlas Air Worldwide to be acquired by investment consortium for US$5.2 billion

Atlas Air Worldwide, a leading global provider of outsourced aircraft and aviation operating services and parent company of Atlas Air, Inc. and Titan Aviation Holdings, Inc., has announced that it has entered into a definitive agreement to be acquired by an investor group (the Consortium) led by funds managed by affiliates of Apollo together with investment affiliates of J.F. Lehman & Company and Hill City Capital in an all-cash transaction with an enterprise valuation of approximately US$5.2 billion.

Atlas Air Worldwide shareholders will receive US$102.50 per share in cash, which represents a 57% premium to the 30-day volume-weighted average trading price per share of Atlas Air Worldwide common stock as of July 29, 2022. The transaction is expected to close in the fourth quarter of 2022 or the first quarter of 2023, subject to customary closing conditions, including approval by Atlas Air Worldwide shareholders and receipt of regulatory approvals.

Apollo is a global, high-growth alternative asset manager with a focus on three business strategies: yield, hybrid, and equity. J.F. Lehman & Company is a private equity investment firm focused on the aerospace, defense, maritime and environmental sectors. Hill City Capital is an investment firm with investment research focused primarily in industrial, aerospace and transportation.