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Cobham Acquires Full Ownership Of Helicopter Services Joint Venture

Gally Articola

Wednesday, July 17th, 2013

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U.K.-based Cobham plc said on July 15 that it completed the acquisition of the 50 percent it did not already own in FB Heliservices Ltd, FB Leasing Limited and FBS Limited--together called FBH--from its long standing joint venture partner, Bristow Helicopters Limited [BRS]. The transaction comprises cash consideration of approximately $111.8 million payable on completion, together with the assumption of Bristow’s share of FBH’s net debt. FBH’s existing management team will remain with the company following the acquisition. It is…

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