Bristow Helicopters has entered into an agreement to acquire the remaining 51% of Norsk Helikopter, taking its ownership to 100%. The shares will be purchased from the Norwegian Ugland family in a transaction that also involved the Ugland family acquiring 100% of Lufttransport AS, which is expected to close within the next few days.
Richard Burman, Managing Director of Bristow Helicopters stated, "Bristow is delighted to have reached agreement with our Norwegian partners. This transaction will enable Bristow to focus on developing the oil and gas helicopter services that we provide through Norsk Helikopter using Bristow's global operational experience and financial strength. There are considerable opportunities in the Norwegian offshore market and Bristow can bring the full focus of its financial resources and depth of helicopter experience to ensure that Norsk Helikopter is properly placed to expand and develop."
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