ATSG shareholders approve merger with Stonepeak

Shareholders of aviation solutions firm Air Transport Services Group (ATSG) have voted to approve a merger with alternative investment firm Stonepeak.

ATSG entered into a definitive agreement to be acquired by Stonepeak in November 2024, as part of an all-cash transaction with an enterprise valuation of approximately $3.1bn.

“The agreement with Stonepeak will deliver immediate and certain cash value to ATSG’s shareholders at a substantial premium to recent market prices,” said Joe Hete, executive chairman of ATSG’s board of directors.

As part of the approved merger agreement, ATSG will become a wholly owned subsidiary of Stonepeak and will no longer be a publicly traded company. As part of the transition, ATSG’s common stock will be delisted from NASDAQ and deregistered under securities law.

The board approved both the merger agreement proposed and an advisory compensation proposal.

The merger of the two companies is expected to close during the first half of 2025, pending any regulatory approvals.

Once finalised, the company will operate as a privately under Stonepeak’s ownership.