Macquarie Infrastructure Company , a market leader in the ownership and operation of infrastructure businesses in the U.S., has entered into a definitive agreement to acquire the company that operates the fixed base operations ("FBOs") at Mineta San Jose International Airport in San Jose, California. SJJC Aviation Services, LLC owns fixed base operations doing business as San Jose Jet Center and ACM Aviation. SJJC Aviation Services, LLC will be acquired by Macquarie Infrastructure Company in an expansion of the acquisition of Mercury Air Centers ("Mercury") announced on April 19, 2007.
With the agreement to purchase SJJC Aviation Services, LLC, MIC will acquire a total of 26 FBOs in the Mercury transaction. The total purchase price, including all fees, expenses, debt service reserves and pre-funded integration costs, will be approximately $615.0 million. In addition, the Company expects to commit to an additional approximately $18.0 million of growth related capital expenditures for a new hangar. The transaction is expected to close in the third quarter of 2007.
