By Freya Berry and Pamela Barbaglia
LONDON (Reuters) - Swiss private aviation firm VistaJet is in talks with bankers over a potential sale of the business which could fetch up to $900 million, two financial sources closely monitoring the deal said on Monday.
VistaJet, which is known for its distinctive silver aeroplanes and is wholly owned by its multi-millionaire founder Thomas Flohr, is close to appointing financial advisers and could start a sale process in September, one of the sources said.
A VistJet spokeswoman said that Flohr has stated in many recent interviews that he has no plans to sell, and that for the time being the company is not for sale.
Valuations for the sector are hard to come by as the firms involved are largely privately-owned. But Bombardier
VistaJet has core earnings of around $100 million, one of the sources said, giving a deal value of up to $900 million at those multiples.
Private equity is most likely to buy the company, the sources said. One source said that the luxury firm, which caters for rich clients from Russian oligarchs to Chinese entrepreneurs, could make for an attractive trophy asset.
VistaJet reported a 25 percent rise in 2012 revenue to around $400 million. The company spokeswoman said the firm has grown at a rate of 25 percent for the past two to three years - a potentially attractive rate for a private equity firm in a market short of primary deals.
(Editing by Sophie Sassard and Jane Merriman)
