Bain to Pursue Purchase of Tropical Island Airline
- Consortium bidding for control of Trans Maldivian Airways
- Buyout firm partners with Chinese conglomerate Tempus Group
Trans Maldivian, which owns one of the world’s biggest seaplane fleets, carries visitors from the country’s international airport to luxury resorts on other islands.
Photographer: Natalia Seliverstova/Sputnik via AP Photos
Bain Capital LP is in the final stages of bidding for Blackstone Group LP’s seaplane operator in the Maldives, the tropical island chain known for its white sand and turquoise waters, according to people familiar with the matter.
The buyout firm is partnering with Chinese conglomerate Tempus Group Co. in its bid for control of Trans Maldivian Airways Pvt, the people said, asking not to be identified because the matter is private. The consortium has been discussing a valuation of about $500 million, though precise terms are still under negotiation, according to one of the people. Blackstone remains in talks with other potential acquirers, the people said.