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Seaplane Base Of The Male' International Airport, Maldives (Photo: Business Wire)

Stocks in this article: BX

Mr. Lars Petré (Chairman, TMA) said, “We have partnered with Blackstone, one of the leading private equity firms in the world, to help take our business and tourism in the Maldives to the next level. The Maldivian economy will gain from the presence of one of the world’s largest and most respected investment firms.”

Mr. Lars Nielsen, (Chairman, MAT), said “We are extremely happy to partner with Blackstone in the combined enterprise. With their strong network and operational focus, Blackstone will contribute significant value to the venture. This will be beneficial to the employees and enhance their career growth. In addition, together we look forward to delivering more efficient services to the tourists coming to the Maldives and the resorts in which they are staying. This combination will increase service efficiency to our resorts.”

Mr. Hussain Afeef (Director, TMA), further added “We are committed to playing a significant role in building the tourism industry in the Maldives. Blackstone will bring to Maldives a wide global experience and an established track record in the tourism and hospitality sector. Incorporating global best practices would be beneficial not just to the companies but to the tourism industry, in general.”

Deutsche Bank (NYSE:DB) and HSBC (NYSE:HBC) served as buy-side advisors on the transaction. The sellers were advised by Churchill Capital and Northern Lights.

About Blackstone

Blackstone is one of the world’s leading investment and advisory firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, the companies we advise and the broader global economy. We do this through the commitment of our extraordinary people and flexible capital. Our alternative asset management businesses include the management of private equity funds, real estate funds, hedge fund solutions, credit-oriented funds and closed-end funds. Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Further information is available at www.blackstone.com. Follow us on Twitter @Blackstone.

About Maldivian Air Taxi

Maldivian Air Taxi was set up in 1992 to provide sea plane transfer services in Maldives. Based in the Ibrahim Nasir International Airport, MAT operates over 20 De Havilland Twin Otter aircraft. It offers a wide range of services from excursions to photo flights and charters, in addition to providing transfer services for tourists arriving in Maldives. See http://www.maldivianairtaxi.com/ for more details.

About Trans Maldivian Airways

The company was started in 1988, as a helicopter operator under the name Hummingbird in Maldives. In 1998, Lars Petré, Hussain Afeef and Mohammed Moosa invested in the company and rebranded it to Trans Maldivian Airways and changed the fleet to Twin Otter only. It currently operates over 20 Twin Otters. During 2011, TMA took delivery of three brand new DHC‐6‐400 aircraft. TMA operates its own Sea Plane Terminal at Ibrahim Nasir International Airport, with 13 exclusive lounges for select resorts.

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