Leading European aeronautic and defense group Airbus entered into exclusive negotiations with StandardAero Aviation Holdings, Inc. (a Veritas Capital portfolio company) for the disposal of Vector Aerospace Holding SAS and its subsidiaries (together, "Vector Aerospace").

Vector Aerospace is a global aerospace maintenance, repair and overhaul company. It generated revenues of US$ 704.8 million in 2016 and employs approximately 2,200 people in 22 locations across Canada, the United States, the United Kingdom, France, Kenya, South Africa, Australia and Singapore.

The transaction remains subject to workers' council consultation, signing of definitive agreements and customary approvals, such as regulatory clearances.

Clifford Chance acted as leading legal adviser to Airbus, with a team composed of Fabrice Cohen, partner, Emmanuel Mimin, counsel, and Raphaël Durand, associate.