The investor group is led by funds managed by affiliates of Apollo Global Management together with investment affiliates of J.F. Lehman & Company and Hill City Capital.
The transaction was unanimously approved by the Board of Directors, which recommended that shareholders approve the transaction.
It is expected that the transaction will be completed in the first quarter of 2023, subject to conditions and regulatory approval.
When completed, Atlas Air Worldwide will be a privately held company and shares of common stock will no longer be listed on the Nasdaq stock exchange.
John Dietrich, President and CEO of Atlas Air Worldwide, says, “We are pleased to receive overwhelming support from Atlas Air Worldwide shareholders, who recognise this transaction provides compelling value to them while giving us the opportunity to execute our strategic plan.
“This is another step forward to completing the transaction as we advance our leadership in airfreight and deliver high-quality services to our customers around the world.”