NBAA Convention News

Olver’s absence could be a good sign for troubled Grob

 - October 7, 2008, 3:14 PM

Negotiations in Europe between Grob Aerospace and an undisclosed prospective new investor have continued into a third day. Last week, Grob CEO Niall Olver canceled the company’s exhibit here in Orlando so that top management could focus on reaching agreement with a company that has emerged from a short-list of three as Grob’s favored bidder.

On Sunday, Olver told NBAA Convention News that he hoped to get to the NBAA show by this morning. However, he added that he would remain in Europe if progress is being made with negotiations. Grob officials have confirmed that Olver has not flown to Orlando, which suggests he may be getting closer to signing a memorandum of understanding.

Olver has confirmed that several aircraft manufacturers have been trying to bid for various Grob assets, but he strongly favors keeping the company in one piece to allow it to complete certification of the SPn light jet.

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