Pemco Aviation Group entered into a definitive agreement to sell its commercial MRO and modification subsidiary, Pemco World Air Services, to private investment firm Sun Capital Partners for $43 million. PAG Chairman Michael Tennenbaum said the transaction "permits [PAG] to pay off all of its bank debt, fund pension plan liabilities and still have a cash balance of approximately $10 million." The transaction is subject to the approval of PAG stockholders. "Pemco is a leading international ...

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