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Macquarie Infrastructure Company Announces Sale of Two Fixed Base Operations by Atlantic Aviation

Dépèche transmise le 1 février 2011 par Business Wire

NEW YORK--(BUSINESS WIRE)--Macquarie Infrastructure Company (NYSE: MIC) announced that its Atlantic Aviation subsidiary has concluded the sale of fixed base operations at Fresno Yosemite International Airport and Cleveland Cuyahoga County Airport.

“Atlantic concluded that each of these operations was sub-scale, relative to their market, and selling them provides Atlantic with an opportunity to redeploy the sale proceeds in new or existing markets where it has stronger growth prospects”

“Atlantic’s sale of the facilities and leaseholds at Fresno and Cleveland are the product of a comprehensive review of the business’ portfolio,” said James Hooke, Chief Executive Officer of MIC. “Atlantic concluded that each of these operations was sub-scale, relative to their market, and selling them provides Atlantic with an opportunity to redeploy the sale proceeds in new or existing markets where it has stronger growth prospects,” added Hooke.

Hooke notes that Atlantic Aviation anticipates opening a newly constructed FBO at the Will Rogers’ airport in Oklahoma City on May 15, 2011.

Both sales are subject to satisfaction of conditions consistent with transactions of similar size and complexity. The transactions are not expected to have a material impact on Atlantic’s ongoing financial performance.

The facilities and leasehold at Fresno have been sold to a subsidiary of Ross Aviation. The facilities and leasehold at Cleveland Cuyahoga have been sold to a subsidiary of The Cleveland Jet Center. Terms of the sales were not disclosed.

Atlantic continues to operate the largest network of fixed base operations in the U.S. with facilities at 66 airports across the country.

About Macquarie Infrastructure Company

Macquarie Infrastructure Company owns, operates and invests in a diversified group of infrastructure businesses providing basic, everyday services, to customers in the United States. Its ongoing businesses consist of three energy-related businesses including a gas production and distribution business (The Gas Company in Hawaii), a controlling interest in a district energy business (District Energy), and a 50% indirect interest in a bulk liquid storage terminal business (International-Matex Tank Terminals). MIC also owns and operates an aviation-related airport services business (Atlantic Aviation). The Company is managed by a wholly-owned subsidiary of the Macquarie Group. For additional information, please visit the Macquarie Infrastructure Company website at www.macquarie.com/mic. MIC-G

MIC is not an authorized deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of MIC do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 (MBL). MBL does not guarantee or otherwise provide assurance in respect of the obligations of MIC.