May 3 - Oregon, USA based Erickson Air-Crane Incorporated has closed its acquisition of Evergreen Helicopters (EHI) from Evergreen International Aviation.
On March 20, 2013 HLPFI reported that Erickson Air-Crane - operator and manufacturer of the Erickson S-64 heavy lift helicopter - executed a stock purchase agreement of Evergreen Helicopters.
The deal was secured with USD185 million cash, USD17.5 million in unsecured promissory notes issued by Erickson, and approximately four million newly-issued preference shares.
Udo Rieder, Erickson Air-Crane ceo, commented: "We expect to quickly follow this transaction with the closing of our planned acquisition of Air Amazonia, which is squarely focused on the fast-growing South American oil and gas market."
