Blackstone acquires seaplane companies in Maldives
Neelam Mathews Feb 1 2013 Blackstone has announced that a private equity fund managed by it has acquired a controlling interest in two Maldives-based seaplane operators - Maldivian Air Taxi "MAT" and Trans Maldivian Airways "TMA". Following the transaction, Lars Erik Nielsen (Founder, MAT), Lars Petre and Hussain Afeef (majority shareholders, TMA) will retain a substantial shareholding, will continue to play a significant role in the companies, including serving as directors on the board. The terms of the transaction were not disclosed. With a unique 'one-island one-resort' concept, Maldives has witnessed a strong increase in tourist arrivals over the last ten years with 2012 witnessing an all-time high tourist arrival of almost one million tourists. Established in 1989, TMA is the oldest air services operator in the Maldives and operates over 20 seaplanes. Established in 1992, Maldivian Air Taxi has grown to become the biggest seaplane operator i...