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Article: South Africa: 1time buys 77.5% of Safair Technical.

Article from:
TendersInfo
Article date:
September 16, 2008
Copyright

Byline: pinto03

1time holdings is pleased to announce that it has concluded an agreement to acquire a 77.5% shareholding in Safair Technical Pty Ltd from Irish based aircraft leasing company Aergo Capital Limited for a price of USD7.15 million. The acquisition is conditional upon Competition Commission approval. Safair Technical has a R50 million(usd 6.1 m) net asset value.Safair Technical holds international aircraft maintenance approvals from the American FAA, European EASA and the South African CAA and has over 40 years experience as an aircraft maintenance provider.

After the completion of the acquisition, Safair Technical will be merged with 1time ...

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