PPRuNe Forums - View Single Post - Bristow files for Chapter 11 Bankruptcy
View Single Post
Old 13th May 2019, 14:43
  #28 (permalink)  
PhilJ
 
Join Date: Nov 2004
Location: Western Oz
Posts: 51
Likes: 0
Received 0 Likes on 0 Posts
From an SEC filing, https://investtribune.com/bristow-gr...8-k-on-may-13/

On May 10, 2019, BHL completed the sale of all of the shares of EAIL to Orient Industrial Holdings Limited (“OIHL”), an entity affiliated with Mr. Richard Lake, pursuant to a Sale and Purchase Agreement (the “EAIL Purchase Agreement”). Pursuant to the EAIL Purchase Agreement and related agreements, BHL contributed approximately £17.1 million to EAIL as working capital, OIHL acquired EAIL, BHL retained its controlling ownership of the shares in Humberside International Airport Limited that it previously held through EAIL and certain intercompany balances between BHL and EAIL were written off. As a result of the transaction, OIHL now owns and operates EAIL, which had previously operated as a separate unit within Bristow Group, and BHL maintains its controlling interest in Humberside Airport, from which BHL provides U.K. search and rescue services.
PhilJ is offline