Merger clearance for acquisition of Helisota

Our corporate and M&A team consulted Avia Solution Group in the process of obtaining merger clearance for the acquisition of sole ownership of Helisota, the only Mi-8/17 type helicopters technical maintenance company in Lithuania. Our firm drafted the merger notification and represented the buyer in the clearance procedure before the Lithuanian Competition Council.

The acquisition 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.

Only a few companies are active in the market of helicopters in Lithuania, due to this the market share occupied by Helisota is rather substantial at the local level. Thus, even the smallest changes in the market are closely observed by the National Competition Council.

The acquisition of the shares was structured to be performed in a two-way process: part of the shares was to be 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.