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Macquarie Infrastructure Company Announces Sales of Fixed Base Operations by Atlantic Aviation

Dépèche transmise le 1 juillet 2011 par Business Wire

NEW YORK--(BUSINESS WIRE)--Macquarie Infrastructure Company (NYSE: MIC) announced that its Atlantic Aviation subsidiary has concluded sales of fixed base operations at Hayward Executive Airport in Hayward, California and Burlington International Airport in Burlington, Vermont.

“These transactions are consistent with Atlantic’s previously disclosed strategy of selling FBOs when an attractive valuation can be achieved and proceeds effectively redeployed”

“These transactions are consistent with Atlantic’s previously disclosed strategy of selling FBOs when an attractive valuation can be achieved and proceeds effectively redeployed,” said James Hooke, Chief Executive Officer of MIC.

“Atlantic concluded that its operations at each of Hayward and Burlington were sub-scale relative to their markets. Selling the FBOs at these airports provides Atlantic with an opportunity to pursue expansion into regions they believe have stronger growth prospects,” added Hooke.

Atlantic is negotiating the acquisition of additional U.S.-based FBOs. Proceeds from the sales of the Hayward and Burlington operations will be retained to fund a portion of these acquisitions, should negotiations result in a purchase agreement.

Following the announcement of the sales, MIC reaffirmed its full-year guidance for Atlantic of EBITDA (earnings before interest taxes depreciation and amortization) of between $125 and $130 million.

Atlantic operates the largest network of fixed base operations in the U.S. and opened its newest facility at Will Rogers Airport in Oklahoma City on June 21st.

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.