Rotorcraft Update: Canadian court approves CHC sale

 - June 9, 2008, 6:37 AM

The British Columbia Supreme Court has approved CHC Helicopter’s planned $3.7 billion sale to a fund controlled by Connecticut-based First Reserve. The deal is expected to close this month. CHC is the world’s largest provider of helicopter services to the offshore oil and gas industry and operates 250 aircraft in 35 countries. The sale price is a combination of cash and debt assumption.