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Article: Bristow buys stake in Brazilian helicopter company
- Article from:
- AP Online
- Article date:
- May 27, 2009
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Bristow Group Inc., which provides helicopter airlift services to offshore oil rigs, said Wednesday it has acquired a minority stake in a Brazilian helicopter and aviation services company in a deal aimed at capitalizing on South America's growing oil business.
Houston-based Bristow said it agreed to pay $174 million for a 42.5 percent stake in Lider Aviacao Holding SA, which provides helicopter and executive aviation services. At the same time, Bristow sold five aircraft to Lider for $55 million, reducing its net cash outlay to $119 million.
Terms of the agreement include incremental earn-out payments of up to $53 million based on Lider's achievement of growth targets for ...