Airbus to buy Danish aircraft parts distributor Satair for $504 million
27 July 2011
European aerospace company Airbus today entered into an agreement to buy Danish aircraft parts distributor Satair, for $504 million in cash.
Satair is a distributor of aircraft parts and services specialising in expendables and components that supports all major commercial aircrafts.
The Kastrup, Denmark-based company, which has a worldwide supply chain network and regional sales offices, expects $403 million of revenues and $36 million of EBITDA in the fiscal year ended 30 June 2011.
Airbus is offering to pay 580 Danish kroner a share, a premium of 23 per cent to Satair's closing price yesterday, or a 94-per cent premium compared to the share price before Satair disclosed the takeover talks in March.
The announcement of the takeover sent the stock of Satair soaring by as much as 23 per cent to 577 kroner in today's trading at the Copenhagen Stock Exchange.
The acquisition comes a day after Toulouse, France-based Airbus announced that it proposed to buy US-based Metron Aviation, a provider of advanced Air Traffic Management (ATM) products and services for the global aviation industry, for an undisclosed sum.