The Board of Abu Dhabi Aviation (BAR, Abu Dhabi International) has decided to send a formal acquisition offer to Falcon Aviation Services (FVS, Abu Dhabi Bateen), according to a filing on the Abu Dhabi Stock Exchange.
The decision was taken at a Board meeting on September 7, 2021, but no further details on the offer were disclosed.
The company would make further announcements regarding Falcon’s response to the offer, and whether the transaction would be completed or not, according to the notification by ADA General Manager Mohammed Ibrahim Mohamed Al-Mazroui.
The formal offer follows recommendations by its 30% shareholder, the state-owned Abu Dhabi Investment Council, after the airline on April 1, 2021, had signed a letter of intent with Falcon Aviation Services. This had come after the Board on March 23 had taken the decision to expand the company through an acquisition and/or merger.
As reported earlier, ADA intends to acquire 100% of Falcon Aviation Services, an Abu Dhabi-based third-party aviation support service provider for the oil and gas, leasing, management, and MRO services.
The merger would be in line with ADA’s intentions to expand its reputation as a specialist aircraft maintenance company servicing both helicopters and fixed-wing aircraft, both in-house and as a provider of third-party maintenance services. The company has fixed and rotary wing contracts for heavy maintenance and the modification of some of the region’s major helicopter fleets, as well as several maintenance support contracts with the UAE Armed Forces.
Falcon Aviation Services provides a full range of aircraft charter and lease (ACMI, damp and dry leases, charters); engineering (line and base maintenance, hangarage, and workshops); aircraft management; and helipad management.
