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Europe - Other | Mergers & Acquisitions | Other Corporation

Czech Government Sells AERO Stake for $587M

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AERO L-159A(click to view full) The state-owned Czech firm AERO Vodochody a.s. has a long history of success, from its ubiquitous L-39 trainer and light attack aircraft and its successor L-59 to more recent endeavours like the L-159A/B Albatros. It also produces the Ae270 Ibis light aircraft, makes airframes for Sikorsky’s S-76 civilian helicopter, and is part of the C-27J Spartan light tactical transport partnership with Alenia. Among other endeavors. State owned no more, it seems. A recent release notes that PENTA Group company Oakfield a.s. has submitted the highest offer in the amount of CZK 2.91 billion (about $129.6/ EUR 102.6 million), winning the tender for the firm’s privatization and taking on both the government’s 99.98% share total and the firm’s CZK 10.3 billion (about $457.5/ EUR 363.2 million) debt to the state.

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