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Hong Kong Aircraft Engineering Co Ltd Announces Acquisition Of Timco Aviation Services, Inc


Wednesday, 23 Oct 2013 10:00pm EDT 

Hong Kong Aircraft Engineering Co Ltd (HAECO) announced that the Purchaser has entered into the Acquisition Agreement with TAS Management, LLC (Seller). On October 23, 2013, the Purchaser, a wholly owned subsidiary of HAECO, entered into the acquisition agreement with the seller, pursuant to which the Purchaser conditionally agreed to acquire and the Seller conditionally agreed to sell 100% of the equity interest in the Target. The Target is a company based in the United States. The consideration for the Acquisition is USD388.8 million (equivalent to approximately HKD3,025 million) and will be payable by the Purchaser at completion of the Acquisition. HAECO will finance the Acquisition from a combination of existing cash reserves and debt-financing. 

Company Quote

85.95
-0.35 -0.41%
19 Dec 2014