June 26, 2009

Republic Airways Holdings said it is acquiring Midwest Airlines from private equity firm TPG Capital and expects the deal to close after gaining final regulatory approval within six weeks

Republic, in a statement, said it would pay $6-million in cash and a $25-million, five-year note. Midwest also noted reaching “out-of-court settlements with its principal unsecured creditors,” recently obtaining $12-million in debt financing from TPG and Republic, “completing the necessary milestones to enable this acquisition.”

For the full article, visit BTNonline