Aviall, one of the largest independent distributors of new parts for business aircraft, said the European Commission “has not raised any antitrust issues” related to its proposed acquisition by Boeing, and “therefore cleared the transaction to proceed.” Antitrust clearance in the U.S. was received in June and all other regulatory approvals that are needed have now been obtained, said Aviall. A special meeting of Aviall’s stockholders to vote on the transaction is scheduled for September 19, “with closing expected to occur shortly thereafter.” Chicago-headquartered Boeing announced in May that it had reached an agreement to buy Aviall for $1.7 billion and operate the company under its current name as a wholly owned subsidiary. Dallas-based Aviall buys new parts from some 220 OEMs and resells them to general aviation, government and airline customers. In addition to manufacturing the BBJ, Boeing serves the general aviation market with its Jeppesen subsidiary, which it purchased in 2000.
Boeing Acquisition of Aviall Moves Closer
- November 13, 2006, 8:05 AM