US-based freight specialist, Air Transport Services Group, Inc. (ATSG), says it has acquired approximately 3.8 million of its shares from its largest shareholder, a fund affiliated with Red Mountain Capital Partners LLC. With each share valued at USD13.07, the transaction is valued at USD50 million.

In all, the stock purchased represents approximately 6% of ATSG’s outstanding shares.

The Red Mountain-affiliated fund will continue to hold approximately 11% of ATSG shares outstanding following the transaction.

ATSG's subsidiaries include ABX Air (GB, Wilmington, OH) and ATI - Air Transport International (8C, Wilmington, OH).