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The Helicopter Company (THC), which is owned by Saudi Arabia’s Public Investment Fund (PIF), has acquired a 76 % stake in Africa’s Heliconia.
The value of the majority stake acquisition was not disclosed.
Heliconia is a leading operator in the aviation services sector, with presence in North and West Africa, particularly Morocco.
The new investment is a strategic move for PIF’s portfolio company, expanding Saudi’s commercial helicopter footprint into the African continent.
‟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,” said Arnaud Martinez, CEO of THC.
(Writing by Cleofe Maceda ; editing by Seban Scaria)
