American Capital exits Miami flight school to Japan's ANA for $79m
American Capital has exited its majority stake in the Miami-based Pan Am International Flight Academy to Japan's All Nippon Airways (ANA) for $79 million, claiming a compound annual rate of return of 16% over the lifetime of the investment.
According to a release, the Maryland-headquartered firm and its affiliate funds received a total of $94 million in debt and equity proceeds. Of this, American Capital received $79 million, realizing a...
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