AIRBUS TO BUY SATAIR

Dino D'Amore
By Dino D'Amore July 28, 2011 10:23

AIRBUS TO BUY SATAIR

Airbus has agreed to acquire Danish aircraft parts distributor Satair for more than $500 million. Shares in Satair rose 22.8% on the news in Copenhagen.

Airbus will offer Satair shareholders 580 Danish crowns in cash and warrant holders 378.66 crowns in a tender to be backed by Satair’s board.

With this deal, Airbus will become a distributor of parts for rival Boeing as Satair holds a long-term supply-chain agreement with the US manufacturer dating back to 2006. However, Boeing also supplies Airbus through its purchase of Aviall in 2006.

Satair said it would continue to distribute Boeing parts.

Dino D'Amore
By Dino D'Amore July 28, 2011 10:23
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