Acquisition of HNZ Group Inc.
Effective December 29, 2017, HNZ Group Inc. entered into an agreement that resulted in the Corporation’s assets being split between two purchasers, with shareholders receiving CAD$18.70 in cash per share. HNZ Group Inc. shares will be voluntarily delisted from the Toronto Stock Exchange shortly.
The operations of Canadian Helicopters (onshore and Halifax offshore), HNZ Topflight, Acasta HeliFlight, Heli-Welders, and Nampa Valley Helicopters were purchased by the Corporation’s President and CEO, Don Wall, through a wholly-owned acquisition company.
In a subsequent transaction, the Corporation’s international offshore business assets including the HNZ name and operations in New Zealand, Australia, the Philippines, and Papua New Guinea were acquired by PHI, Inc.
For complete details, please refer to the full news release.