All stock purchase conditions for France's Eurocopter Holding to acquire Vector Aerospace Corp. of Canada have been satisfied, Eurocopter said.
Eurocopter Holdings, an EADS company, is paying $13.54 in cash per share for Vector.
The acquisition of Vector Aerospace will help increase the growth of support and services activities for Eurocopter and EADS in both the civil and governmental markets. Vector Aerospace will strengthen EADS' presence in North America and Britain, in alignment with the company's strategic goals as outlined in EADS' Vision 2020 plan.
"We are pleased that Vector Aerospace will now become part of the EADS Group, having received all the necessary regulatory approvals and achieved the required shareholder acceptance level," said Marwan Lahoud, chief strategy and marketing officer of EADS. "The inclusion of Vector will help EADS achieve its long-term strategic goals of increasing its services activities and exposure to the very important North American aerospace market."
Vector Aerospace is an independent provider of aviation repairs and overhaul services. Through facilities in Canada, the United States, the United Kingdom and Africa, Vector Aerospace provides services to commercial and military customers for various types of gas turbine engines, components and helicopter airframes.