HOUSTON, TX -- Bristow Group Inc., which provides helicopter airlift services to offshore oil rigs, says it is buying a minority stake in a Brazilian helicopter and aviation services company. It says the deal will help it capitalize on South America's growing oil business.
Houston-based Bristow said Wednesday it agreed to pay $174 million for a 42.5 percent stake in Lider Aviacao Holding SA, which provides helicopter and executive aviation services.
At the same time, Bristow is selling five aircraft to Lider for $55 million, reducing its net cash outlay to $119 million.
Lider operates 46 helicopters serving the oil and gas industry, representing about half of the oil and gas market in Brazil.
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