Bristow And Columbia Helicopters Terminate Proposed Transaction | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-04.29.24

Airborne-NextGen-04.30.24

Airborne-Unlimited-05.01.24 Airborne-AffordableFlyers--05.02.24

Airborne-Unlimited-05.03.24

Wed, Feb 13, 2019

Bristow And Columbia Helicopters Terminate Proposed Transaction

Bristow Has Paid $20 Million To Columbia In Connection With The Agreement

Bristow Group and Columbia Helicopters, Inc. today announced that Bristow and Columbia have mutually agreed to terminate Bristow's agreement to acquire Columbia.

In connection with the termination, Bristow has paid $20 million to Columbia. Bristow, Columbia and Columbia's shareholders have agreed to release each other from all claims in connection with the purchase agreement and the related transactions.  

"The decision to enter into a mutual termination of the purchase agreement was based on a number of developments following the entry into the agreement, which led both Bristow and Columbia to conclude that it was not possible to combine the two companies at this time," said Thomas C. Knudson, the Chairman of the Board of Directors of Bristow. "We continue to value our relationship with Columbia and look forward to having the opportunity to work together in the future."

"We continue to believe in the potential for collaboration between Bristow and Columbia, and the companies are actively considering mutually beneficial opportunities to work together," said Steve Bandy, president and Chief Executive Officer of Columbia.

Under the proposed takeover deal announced last November, Bristow was set to acquire 100% of the equity interests of Columbia for $560 million from the Lematta family and current management.

(Source: Bristow Helicopters news release. Image from file)

FMI: www.bristowgroup.com

Advertisement

More News

ANN's Daily Aero-Term (05.02.24): Touchdown Zone Lighting

Touchdown Zone Lighting Two rows of transverse light bars located symmetrically about the runway centerline normally at 100 foot intervals. The basic system extends 3,000 feet alon>[...]

Aero-News: Quote of the Day (05.02.24)

“Discovery and innovation are central to our mission at Virgin Galactic. We’re excited to build on our successful record of facilitating scientific experiments in subor>[...]

Aero-News: Quote of the Day (05.03.24)

"We are reaching out to you today on behalf of the Popular Rotorcraft Association because we need your help. We are dangerously close to losing a critical resource that if lost, wi>[...]

ANN's Daily Aero-Term (05.03.24): UAS Traffic Management (UTM)

UAS Traffic Management (UTM) The unmanned aircraft traffic management ecosystem that will allow multiple low altitude BVLOS operations and which is separate from, but complementary>[...]

ANN's Daily Aero-Linx (05.03.24)

Aero Linx: Society of Aviation and Flight Educators (SAFE) SAFE is a member-oriented organization of aviation educators fostering professionalism and excellence in aviation through>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2024 Web Development & Design by Pauli Systems, LC