Eurocopter To Acquire Vector Aerospace
Eurocopter Holding, a subsidiary of EADS, will acquire all of the issued and outstanding common shares of Vector Aerospace by way of a takeover bid at $13.49 in cash per common share. The offer values Vector Aerospace equity at approximately $648.7 million. Vector Aerospace provides both rotary-wing and fixed-wing maintenance, repair and overhaul services. “This opportunity will provide the Eurocopter group with a high level of expertise, especially in public-private partnerships for the maintenance of government aircraft. The complementary nature of our worldwide network of subsidiaries and Vector Aerospace’s own network will enable us to develop our activities jointly, both faster and more efficiently. Vector Aerospace will be managed as an independent multi-customer-platform MRO,” said Lutz Bertling, CEO of Eurocopter Holding. Vector Aerospace has 2,500 employees primarily in Canada and the UK, with resources also located in the U.S. and South Africa.