Berkshire Hathaway acquires Executive Jet, Inc. (NetJets)

Berkshire Hathaway acquired Executive Jet, Inc. (NetJets) for Approximately $700 million ($350 million cash plus Berkshire Class A and B stock), a transaction completed in August 1998, structured as combination (cash and stock).

Executive Jet, Inc. (NetJets) operates in Flight services. Berkshire completed its acquisition of Executive Jet on August 7, 1998; shareholders received aggregate consideration of about $700 million, half in cash and half in Berkshire Class A and B stock. Executive Jet, which pioneered the fractional-aircraft-ownership model and runs the NetJets program, is the world's leading provider of fractional ownership of business aircraft.

Category-defining brand in a growing private-aviation market.

Berkshire added to its flight services business upon the acquisition of Executive Jet, Inc., which was completed on August 7, 1998. EJ shareholders received aggregate consideration of $700 million, consisting of $350 million in cash and the remainder in Berkshire Class A and B Common Stock.Berkshire Hathaway FY1998 10-K, Business description

Advisory firms were not disclosed for this transaction.

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