RIYADH: Saudi Arabia’s Public Investment Fund–owned The Helicopter Co. has acquired a 76 percent majority stake in Heliconia, one of Africa’s leading rotary-wing aviation services operators.
The deal, signed during the Dubai Airshow, gives a chance to explore new markets, join industry developments, and build partnerships across the continent, according to a press release.
The acquisition also supports PIF’s goal of developing new sectors that contribute to Vision 2030 and deliver sustainable returns. It further complements Saudi Arabia’s National Logistics Strategy, which aims to transform the Kingdom into a global hub by expanding connectivity and integrating multiple modes of transport.
Arnaud Martinez, CEO of THC, said: “This acquisition will enable THC to expand into North and West Africa, jump-start our entry into the offshore sector, and further strengthen our position as the catalyst for the creation of Saudi Arabia’s global general aviation footprint.”
He added: “The shared commitment with Heliconia to delivering quality services and setting the highest safety standards highlights the significance of this partnership for both parties. And while THC will benefit from Heliconia’s expertise in offshore services in Africa, it will allow Heliconia to gain access to THC’s strategic value proposition and promising growth opportunities.”
