Merger Watch: CHC Helicopter - First Reserve

Aug.29.08 | About: CHC Helicopter (FLI)

The Irish Commission for Aviation Regulation has confirmed via the following that it remains involved in the CHC Helicopter Corp. (FLI) - First Reserve Corp. transaction:

The Commission continues to engage with CHC in relation to its proposals. We are not in a position to indicate when that process will be complete.

This is the first aviation regulator to openly disclose that its review remains in progress, as every other regulatory has refused to acknowledge this deal. In fact, the aviation regulator in Denmark has become openly hostile to continued inquiries at this point.

Nevertheless, the information from Ireland does in fact confirm that this deal remains entrenched in pending reviews and very likely will be delayed well into September, perhaps October, of this year.

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