Blackstone’s Trans Maldivian Airways Bid Is Said to Collapse (1)

A bid by Blackstone Inc. to repurchase seaplane operator Trans Maldivian Airways Pvt.has fallen through, people familiar with the matter said.

The plan was abandoned after the parties involved couldn’t reach an agreement on pricing, according to the people, who asked not to be identified because the talks were private.

Blackstone put in a bid below $500 million earlier this year. TMA’s backers, including Carlyle Group Inc., have been considering a sale since at least 2022, when they were looking for a valuation of as much as $700 million. The Covid pandemic complicated matters, but deliberations ...