Hungary's 4iG Space and Defence Technologies has signed an agreement to acquire a 63% stake in helicopter maintenance company HeliControl, parent company 4iG said in an announcement on the website of the Budapest Stock Exchange.
"By leveraging HeliControl's professional expertise and infrastructure, 4iG S+D aims to establish a high value-added competence center capable of supporting sustainable operation, modernisation, and long-term servicing of civilian, law-enforcement and defense-related rotary-wing fleets," 4iG said.
The closing of the transaction is conditional on regulatory clearance and the fulfillment of conditions in the sale and purchase agreement, it added.
4iG S+D signed a term sheet on the deal in the summer.
HeliControl, established in 2011, specializes in helicopter maintenance, repair and parts supply. It serves Hungarian as well as Austrian, Swiss, German, Scandinavian and other European helicopter operators.
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