Eurocopter stages takeover bid for Vector Aerospace

EADS subsidiary Eurocopter has launched a C$625 million takeover bid for Canadian helicopter maintenance firm Vector Aerospace Corporation (VAC).

VAC’s board of directors has unanimously approved the offer, with shareholders representing 60 per cent of the issued and outstanding common shares entering into “irrevocable lock-up agreements with Eurocopter”.

Eurocopter says Vector Aerospace would become its “independent multi-platform MRO services provider”

“This opportunity will provide the Eurocopter group with a high-level of expertise, especially in public-private partnerships for the maintenance on governmental 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,” Eurcopter Holding CEO Lutz Bertling said.