TMA, which has been in operation since 1993, operates a fleet of 65 seaplanes and provides services to luxury resorts across Maldives.
Blackstone is preparing to take out a USD 200 million (MVR 3.1 billion) loan to acquire TMA, the world's largest seaplane operator.
The loan is being arranged with the help of Deutsche Bank, which is gauging interest from potential participants to support Blackstone's bid.
Blackstone, the largest alternative asset manager globally, has over USD 1 trillion in assets under management and is focusing on real estate, private equity, infrastructure, and other investment strategies.
The loan will be secured at an interest rate of under 10 percent.
The private equity firm intends to acquire TMA for less than USD 500 million (MVR 7.7 billion).
Bloomberg News reported in December that a group of investors, led by Carlyle Group, had considered selling TMA again, with a previous sale attempt in 2022 valuing the company between USD 500 million and USD 700 million (MVR 10.8 billion).
TMA, which has been in operation since 1993, operates a fleet of 65 seaplanes and provides services to luxury resorts across Maldives.
The company currently flies to 80 resorts and operates 400 flights daily.
Blackstone had previously owned TMA, acquiring a controlling stake in 2013 before selling it to Bain Capital and Tempus Group in 2017.
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