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Canadian Helicopters Group To Acquire Helicopters (N.Z.) Limited

DDN

Thursday, April 14th, 2011

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Canadian Helicopters Group Inc. [CHL.A], the largest helicopter transportation services company operating in Canada, said its wholly-owned subsidiary Canadian Helicopters Limited (CHL) has entered into a sale and purchase agreement to acquire the assets of Helicopters (N.Z.) Limited, including the shares of Helicopters (Australia) Pty Ltd and other active subsidiary companies, as well as the assets of Helicopter Nominees Limited (collectively HNZ) for approximately $124.5 million on a debt free and cash free basis, subject to customary adjustments. HNZ is…

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