The European Commission has approved the Agusta-Westland helicopter joint venture between Finmeccanica and GKN, saying it poses no competition concerns. Debis AirFinance has completed its $750 million takeover of Irish aircraft lessor AerFi after winning regulatory approval. The combined entity owns 222 aircraft, with 32 Airbus A320s on order. DaimlerChrysler is the principal debis shareholder. Ogden has completed the sale of its Aviation Ground Services business to the UK's John Menzies for $105 million - less than announced in July, since Ogden's minority interests in certain joint ventures were excluded from the deal. Honeywell shareholders will be asked to approve its takeover by General Electric at a meeting on 1 January. US spares distributor Aviall has terminated its agreement to buy Superior Air Parts, saying "the timeframe necessary to complete the transaction was unacceptable to the parties involved". Lockheed Martin's Sanders unit, to be purchased by BAE Systems, is to create a new optical and optoelectronic business, TeraConnect. BAE and UK defence contractor Vosper Thornycroft have formed an alliance to bid for UK military support contracts valued at £15 billion by 2009. The UK's Wiggins airport group has been selected as preferred bidder to develop former military air base Schwerin-Parchim in north Germany. United Technologies, SIA Engineering and ST Aero have signed a deal to create an engine part repair venture, Turbine Coating Services, to be 51%-owned by UTC. Based in Singapore alongside Pratt & Whitney/ST Aero venture Turbine Overhaul Services, it will focus on PW4000 airfoil repair. Belgium handling specialist AviaPartner has bought the 50% stake in Novia Holding held by Sweden's CAA. Novia, 50%-owned by Maersk Air, handles in Copenhagen, Stockholm and Gothenburg and has a 25% stake in Cargo Services Luxembourg.
Source: Flight International
