Story ID: 013aRotorcraftUpdateAINMay14EditedByAY_NM
Babcock To Take Over Avincis
By: Thierry Dubois
Caption: Parent company of operators Inaer, Bond, Australian Helicopters and Norsk Helikopterservice will belong to Babcock International late this year.
Word Count: 66
Engineering support specialist Babcock International has entered a conditional agreement to acquire the Avincis group, the parent company of operators Inaer, Bond, Australian Helicopters and Norsk Helikopterservice, for £920 million ($1.5 billion). Completion of the proposed acquisition, from a vehicle owned mainly by KKR and Investindustrial, is conditional on approval by Babcock shareholders and antitrust authorities. The actual transaction is expected to take place this year.