Onex completes investments in BBAM and FLY

Onex Corporation announced (02-Jan-2013) it has completed the acquisition of a 50% interest in BBAM for USD165 million. Onex and BBAM's management team also completed the purchase of USD25 million of newly issued shares of FLY Leasing Limited, a lessor of commercial jet aircraft managed by BBAM. Including this investment and the BBAM management team's existing stake, Onex and management will own approximately 11% of FLY. As part of the transaction, Onex and management's investment in FLY will become subject to a long-term lock-up agreement. In total, Onex Partners III invested USD185 million, of which Onex's share was USD47 million as a limited partner in the fund. [more - original PR] [more - original PR - II]