Norwegian helicopter turns British
The Ugland-family is selling their 51 per cent of the shares in Norsk Helikopter AS to the British company, Bristow Helicopters. At the same time, Ugland is to take over 100 per cent of the shares in Luftransport AS (Air transport).
A press release from Bristow Helicopters states that the agreement is due to be finalized within the next few days.
“This transaction will make it possible for Bristow to focus on further development of the helicopter service for the oil and gas sector already provided through Norsk Helikopter, by using Bristow’s world-wide experience and financial strength. There are substantial growth possibilities in the Norwegian offshore market, and Bristow will with its full focus on financial resources and its extensive helicopter-experience, ensure that Norsk Helikopter is put in the necessary position for expansion and development,” states Richard Burman, managing director of Bristow Helicopters.
Norsk Helikopter was established in 1993. Bristow has owned 49 per cent of the shares, while 50% were owned by Knut Axel Ugland Holding AS, and 1 % by Andreas K.L.Ugland.
Norsk Helikopter AS will continue to operate as a Norwegian company.
Bristow delivers helicopter services throughout the world. The company has a fleet of over 450 small, medium and large helicopters and airplanes that undertake 300,000 flight hours a year.