EADS subsidiary Eurocopter Holding has announced the acquisition of 98.32 per cent of Candian firm Vector Aerospace Corporation, following a C$625 million takeover bid launched in March this year.
Eurocopter, which had planned to obtain 100 per cent of Vector under a compulsory acquisition, bought a total of 77, 627, 98 common shares at an agreed price of C$13 each.
“We are pleased that Vector Aerospace will now become part of the EADS Group having received all the necessary regulatory approvals and achieved the required shareholder acceptance level. The inclusion of Vector will help EADS achieve its long-term strategic goals of increasing its services activities and exposure to the very important North American aerospace market,” EADS chief strategy & narketing officer, Marwan Lahoud said.
Vector will continue to operate as an independent company.