Airbus To Buy Parts Supplier Satair For $504M

Law360, New York (July 27, 2011, 2:27 PM EDT) -- Airbus SAS said Wednesday it would pay $504 million to buy Satair A/S, giving the aviation giant access to the Danish aircraft parts and maintenance company's global supply and sales network.

Toulouse, France-based Airbus' offer of 580 Danish kroner ($112) per share represents a 23.4 percent premium over the Copenhagen-based Satair's July 26 closing stock price, Airbus said.

The bid comes in the form of a tender offer though Airbus Denmark Holding ApS unit and shareholders representing 16 percent of Satair already are committed to the...
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