Abu Dhabi Aviation Company will make a formal offer to acquire Falcon Aviation Services (FAS), an aviation services provider. 

The move, which is part of the company’s expansion strategy, has been approved by the board of directors, according to a bourse filing to the Abu Dhabi Securities Exchange (ADX). 

Last April, the company signed a letter of intent to consider fully acquiring FAS. 

“The company will make further announcements regarding Falcon’s response to the offer, and whether the transaction will be completed or not,” the latest disclosure said. 

The company is a major commercial helicopter operator in the Middle East, with assets worth more than 5.2 billion dirhams ($1.4 billion) as of June 2021. 

Its net profit for the second quarter reached 124 million dirhams, up by 159 percent from 47.8 million dirhams in the same period last year. 

(Writing by Cleofe Maceda; editing by Daniel Luiz  ) 

Cleofe.maceda@refinitiv.com 

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