Hindustan Aeronautics Limited (HAL) has approved the acquisition of the remaining 50% stake in HATSOFF Helicopter Training Pvt. Ltd. from CAE Canada. This move will make HATSOFF a wholly-owned subsidiary of HAL. The transfer involves 3,84,04,205 equity shares, each with a face value of Rs 10, representing a significant consolidation of HAL’s training capabilities.
HAL Consolidates Helicopter Training Operations
Hindustan Aeronautics Limited (HAL) has officially announced the approval for the transfer of a 50% stake in HATSOFF Helicopter Training Pvt. Ltd. from its existing partner, CAE Canada. This strategic acquisition, approved by the board of HATSOFF Helicopter Training Pvt. Ltd., will result in HAL holding complete ownership of the entity.
Key Acquisition Details
The transfer encompasses 3,84,04,205 equity shares of HATSOFF Helicopter Training Pvt. Ltd. Each share has a face value of Rs 10. Upon completion of this transfer, HATSOFF Helicopter Training Pvt. Ltd. will transition from a jointly-owned venture to a wholly-owned subsidiary of Hindustan Aeronautics Limited. This consolidation is expected to streamline operations and enhance HAL’s capabilities in helicopter pilot and technical training.
This announcement follows a prior agreement signed for the acquisition of the initial stake, indicating a swift progression towards full integration. The company has formally communicated this development to the stock exchanges, ensuring transparency with stakeholders.
Source: BSE
