Linklaters and Slaughter and May have picked up roles on the takeover of U.K. private jet business Signature Aviation by leading investment fund Global Infrastructure Partners (GIP) in a deal worth £3.4 billion.

New York-headquartered firm GIP swooped in to make an offer for the business just days after a consortium made up of private equity giant Blackstone and wealth manager Cascade Investment engaged in talks to buy Signature.

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