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Article: Air L.A. finalizes Capitol Air acquisition.
- Article from:
- Business Wire
- Article date:
- February 3, 1995
CopyrightCOPYRIGHT 1995 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LOS ANGELES--(BUSINESS WIRE)--Feb. 3, 1995--Air L.A. (NASDAQ:AILA) Friday announced that it has finalized the previously announced acquisition of St. Paul, Minn.-based Capitol Air.
The boards of directors of Air L.A. and Capitol Air and the stockholders of Capitol Air have approved the acquisition which was a stock transaction valued at about $1.5 million.
The final agreement was signed by Wayne Schoenfeld, president and CEO of Air L.A., and Al Claseman, Capitol's chief executive officer.
Schoenfeld said: "The acquisition of Capitol Air was ideally suited for Air L.A. as part of our strategic growth plan through acquisitions and mergers. Capitol Air's ...