Helijet International (JBA, Vancouver International) has said it has completed a previously announced transaction taking the company private, in which Daniel Sitnam, president and CEO, has acquired all of the outstanding common shares in the company. This means he holds a stake of approximately 12%, while the remainder is held by insiders and one other extended family member.
The company said in a statement that the move proceeded according to a statutory plan of arrangement, the terms of which were agreed between the company and the purchaser on May 15.
Helijet currently operates four scheduled routes connecting its Vancouver International base to both Vancouver Coal Harbour and Nanaimo Harbour, and Vancouver Coal Harbour to both Victoria Inner Harbour and Nanaimo Harbour, as well as running charter operations.
