Bristow Group Buys Helicopters, Ground Facilities and Minority Interest in Cougar Helicopters from VIH Aviation Group
|Areas||Banking and Finance Law, Commercial Real Estate, Corporate and Commercial, Tax|
Goodmans represented Bristow Group Inc. of Houston, Texas, a leading provider of helicopter services to the worldwide offshore energy industry, in connection with the purchase of a minority interest in Cougar Helicopters Inc., the largest offshore energy and search and rescue helicopter service provider in Canada, and the purchase from Cougar’s parent VIH Aviation Group Ltd. of Victoria, BC, and its affiliates eight Sikorsky S-92 helicopters, ground facilities in St. John’s NL and Halifax, NS, and other assets used by Cougar in its operations. Bristow’s investment totals US$250 million plus a three-year earn-out of up to US$40 million based upon Cougar achieving agreed performance targets. The transaction was approved by the Canadian Transportation Agency on September 13, 2012 and was completed on October 3, 2012.