--
-- If Not Current Rated 777 / 787,
-- Pay Upfront 30,000 EUR, if Boeing Current , OR, Pay Upfront 40,000 EUR, if NOT Boeing Current
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-- EU Commission - report:
----------------- Case M.7949 – NORWEGIAN / SHIPHOLD / OSM AVIATION
On 21 April 2016,
the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation and following a referral pursuant to Article 4(5) of the Merger Regulation by which the undertakings
Norwegian Air Resources Holding Ltd ('NARH', Ireland),
controlled by Norwegian Air Shuttle ASA ('Norwegian', Norway),
and
OSM Aviation Group Ltd ('OSM Aviation Holding', Cyprus),
controlled by Shiphold Ltd ('Shiphold', Cyprus),
acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of the whole of the undertaking OSM Aviation Ltd ('OSM Aviation',
Cyprus) by way of purchase of shares3 .
NARH and OSM Aviation Holding are collectively designated hereinafter as the 'Parties'.
MARKET DEFINITION
OSM Aviation acts as an intermediary between crews (pilots and cabin crew members)
and
AOC holders and provides temporary and permanent employment services and related HR management services to AOC holders.
THE PARTIES
NARH is a resource company providing,
through its subsidiaries,
crew and crew management services exclusively to its parent, Norwegian Air Shuttle ASA (Norway), and its affiliates (together 'Norwegian').
--- Norwegian's operations are separated into,
---a commercial airline group with the appropriate Air Operator Certificate holders ('AOC holders'),
---an asset group,
---a resource group
---and other activities.
OSM Aviation Holding is a holding company controlled by Shiphold.
Shiphold is a group mainly active in (i) maritime services, (ii) aviation services, and (iii) ship owning.
OSM Aviation offers a full range of crew management services to AOC holders
including provision of personnel, recruitment, planning and re-planning, wage payment, training and HR.
THE TRANSACTION
The Transaction consists in the indirect acquisition by NARH of 50% of the shares in OSM Aviation from OSM Aviation Holding.
OSM Aviation will after the Transaction be jointly controlled by its current parent,
OSM Aviation Holding (and indirectly Shiphold), and by its new parent, NARH (and indirectly Norwegian).
Additional transactions are due to take place on 1 July 2016, on the day when the joint venture is planned to become operational (the 'operational closing'). Those transactions include the transfer of 100% of the shares
in one of NARH subsidiaries, Norwegian Air Resources Asia Pte. Limited ('NAR Asia'),
from NARH to OSM Aviation.
Pursuant to the Shareholders' Agreement between NARH and OSM Aviation Holding, NAR Asia will be jointly controlled by the Parties.
-------15 pages --- link ---
http://ec.europa.eu/competition/merg...7949_400_3.pdf
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