Approval for the sale of all twelve lots of Ravn Air Group assets was granted today at the final Bankruptcy Court hearing—including, in a last-minute turn of events, Ravn Air Group’s two Anchorage-based Part 121 passenger air carriers, RavnAir Alaska and PenAir.
Subject to Bankruptcy Court approval, the funds would be available to Treasury-approved bidders seeking to buy the entire air group in an upcoming Chapter 11 sale process.
Alaska USA Federal Credit Union and TCF National Bank announced Alaska USA has signed a definitive agreement to acquire TCF Bank’s seven branches located in the greater Phoenix, Arizona, market, along with deposits and certain related assets.
The Wilson Agency and Albers & Company are changing their name and brand as part of the ongoing evolution of the company.
South32 Limited and Trilogy Metals announced that South32 has exercised its option to acquire a 50 percent interest in a joint venture company that will own the Upper Kobuk Mineral Projects.
Summit Spice & Tea Co., Anchorage’s largest specialty food retail store, announced the purchase of ecommerce gift box and specialty food online store Alaska Artisanal.
CopperPoint Insurance Companies, a western-based regional commercial insurance company, announced an agreement to acquire Alaska National Corporation and its wholly owned subsidiary Alaska National Insurance Company.
BP announced that it has agreed to sell its entire business in Alaska to Hilcorp Alaska, based in Anchorage. Under the terms of the agreement, Hilcorp will purchase all of BP’s interests in the state for a total consideration of $5.6 billion.
Alaska Airlines’ 900 Airbus and Boeing aircraft technicians have ratified a Transition Agreement and an Integrated Seniority List.
The Ravn Air Group is launching a “new” PenAir, following the acquisition of PenAir’s assets by investment affiliates of J.F. Lehman & Company for $12.3 million.