Monarch finalises deal with Greybull

Monarch Group has finalized the £125 million (US$200 million) recapitalisation by selling to investment firm Greybull Capital. Greybull will purchase 90 percent of Luton, England-based Monarch from the Mantegazza family, the parties said in a statement late yesterday. The remaining 10% stake will be contributed to the Pension Protection Fund. Seabury Group successfully advised the Monarch Airlines Group with respect to the completion of its strategic review and restructuring program. Under the program Monarch has secured ₤125 million of permanent capital and liquidity facilities provided by Greybull Capital anchored by a ₤50 million capital commitment, with contributions from the Group’s