Our corporate and M&A team advised Avia Solution Group in the process of the acquisition of a minority stake in Helisota, the only Mi-8/17 type helicopters technical maintenance company in Lithuania.
The acquisition of the stake and later the sole ownership of the helicopters maintenance and repair company was a natural step in Avia Solutions Group’s expansion process, as the company assuredly moves into the aviation maintenance and repair sector.
Helisota revenues accounted for over 12 million euros in 2012, more than 90% of which originate from countries outside the European Union. Further expansion in foreign markets will be conducted by the joint efforts of the management of Avia Solutions Group and Helisota.
The deal was closed on December 17th and is valued at approx. 3.5 million euros. The matter’s complexities encompassed complex shareholding structure and arrangements of the parties regarding payment. The acquisition of the shares was performed in a two-way process: part of the shares was acquired by direct payment to the owners and another part by exchanging the shares of the company for the shares of an affiliate of Avia Solution Group.
Our firm advised on the overall structure of the deal, drafted the share acquisition and transaction documents, and represented the parties of the transaction before the Lithuanian Competition Council.