Global Eagle Acquisition Corp announced (08-Nov-2012) the signing of definitive agreements under which Global Eagle will acquire Row 44 and approximately 86% of the issued and outstanding shares of Frankfurt-listed Advanced Inflight Alliance (AIA), in a transaction valued at approximately USD430 million. The agreement will create the largest integrated entertainment platform for the global airline industry. The combined company will be renamed Global Eagle Entertainment Inc. Global Eagle intends to apply to list its shares of common stock on the Nasdaq Stock Market. Global Eagle is purchasing the AIA shares from PAR Investment Partners, which is also a major shareholder of Row 44. AIA separately will retain its listing on the Frankfurt Stock Exchange, with approximately 14% of the shares held by public shareholders. In support of this transaction, Global Eagle has arranged for leading institutional investors, including PAR, to purchase 7.125 million shares of common stock of Global Eagle to the extent any public stockholders of Global Eagle redeem their shares. [more - original PR]
Global Eagle Acquisition Corp to acquire Row 44 and Advanced Inflight Alliance
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