CMB, Petercam acquire Air Contractors Group
Compagnie Maritime Belge and the Petercam Group have reached an agreement with Imperial Holdings (South Africa) to buy Imperial’s share in the Air Contractors Group (ACL), based in Dublin, Ireland.
CMB and Petercam expect to finalize the acquisition before the end of the year. CMB has been a shareholder in ACL since 1998. Once the acquisition is complete, CMB will become the majority shareholder in ACL.
ACL, which is mostly active in European air cargo and plane leasing, owns 25 planes and operates another 18. ACL’s freighter and passenger fleet includes Airbus 300s, Hercules L100-30s, ATR 42s and ATR 72s.
According to CMB, La Poste of France has entered into exclusive negotiations with ACL in relation to the sale of its air cargo subsidiary Europe Airpost (EAP). This exclusivity expires on Nov. 30. EAP’s fleet consists of 16 Boeing 737-200s, two Airbus A300-B4s and four Fokker F-27-MK500s.
CMB, Petercam acquire Air Contractors Group
