Executive air charter company Gama Aviation, part of the Gulf-based investment firm Growthgate Capital, has proposed a £82m ($127m) reverse takeover with private jet operator Hangar 8.
Subject to completion, Gama Aviation will be listed in early January 2015 with an anticipated market capitalisation of £130m ($200m).
Once the deal goes ahead, the company will have 144 aircraft under management, operating from 44 different locations in 15 countries.
Karim Souaid, general manager of Growthgate Capital, said: "A merger with Hangar 8 provides a solid competitive advantage to Gama Aviation that will benefit from enhanced capabilities and a diversified revenue stream that span across services and markets."
Both the CEO and chairman of Gama Aviation will keep their positions.