AVIC International purchase of AIM nears completion

The sale of AIM Altitude to Chinese multinational aviation company, AVIC International Holding Corporation (AVIC), is expected to close within the next 45 days.

tThe binding purchase agreement governing the transaction was signed in November 2015, with the transaction subject to customary regulatory approvals. The relevant competition authorities have since approved the transaction, together with the parent Company of AVIC International, and the final forms necessary for the relevant Chinese regulatory approvals were filed on 21 March. ttOn completion of the sale, AIM Altitude will become a wholly-owned subsidiary of AVIC.t

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