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Spain/Portugal: Authorities clear $1.8B helicopter acquisition

By  |  April 25, 2014

UK-based defense engineering group Babcock International has reportedly won approval form regulators in Portugal and Spain to acquire helicopter transport services Avincis in a $1.5 billion deal plus debt.

The deal, first announced last month, is part of Babcock’s strategy to expand beyond the UK in the coming years, the firm said at the time of the acquisition’s announcement.

The merger is set to be finalized next month in the wake of clearance by the Spanish Council of National Markets and Competition Commission, as well as the Portuguese Competition Authority.

Full content: Reuters

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