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Avia Solutions Group, a WSE listed global provider of one-stop-shop aviation business solutions has announced receiving the green light in regards to concentration and successfully closing the acquisition of helicopter maintenance organization Helisota. Under the agreement, the group in series of transactions has acquired 100% of share capital in the Lithuanian-based organization. The aggregate value of the deal is over 12 mln. Litas, excluding the value of newly issued Avia Solutions Group shares.

Avia Solutions Group, a WSE listed global provider of one-stop-shop aviation business solutions, has announced about the recent acquisition of the controlling interest in the Lithuania-based helicopter maintenance organization Helisota. In the course of several takeover stages Avia Solutions Group will gain 96.2% of the company’s shares, some of them through acquiring directly from the company management and some - through transferring a number of newly issued Avia Solutions Group securities.

Established in 1997, Helisota UAB is one of the leading technical maintenance, overhaul and upgrade facility for Mi-8/17 helicopters in the Baltic States. They offer maintenance, repair and overhaul of the helicopter and its components, supply of spare parts and consumable materials as well as technical support. Their customers are government institutions as well as private companies and agencies from 25 countries all over the world.

On July 1, 2011, at the annual conference of the Lithuanian Confederation of Industrialists Helisota UAB has been awarded the title of “Lithuanian Exporter of the Year 2010”