Babcock International Group on March 11 announced it has entered into a conditional agreement for the sale of its oil and gas aviation business to CHC Group LLC, one of the world’s largest helicopter services and MRO providers.
The Babcock business unit in the agreement provides offshore oil and gas crew transportation services in the UK, Denmark and Australia. It is headquartered in Aberdeen (UK), employing more than 500 people and operates around 30 aircraft across its three locations.
The deal, which is subject to pre-closing conditions, is expected to complete in the second calendar quarter of 2021. It is intended that CHC will seek clearances for the transaction from antitrust authorities in the UK and Australia, but completion is not conditional upon such clearances being received.
