Acasta's Stellwagen to buy ECN Capital's commercial aviation unit
Stellwagen Group, acquired earlier this year by Acasta Enterprises Inc (TSX: AEF), has agreed to buy the commercial aviation advisory and asset management business of ECN Capital. The purchase price is US$22.5 million, payable through an issue of Acasta shares. Ireland's Stellwagen, which operates in the same field, will gain an established asset management platform, expertise and greater distribution capabilities, Acasta said. Acasta bought Stellwagen as part of a $1.1 billion round of deals. A Canadian special purpose acquisition corporation (SPAC), Acasta plans to launch as a private equity firm this year.
12 May 2017•3 mins read
