China’s purchase of Cirrus Industries Inc. under review by US authoritiesMarch 1, 2011 at 1:10 pm | Posted in Aviation Law Current Event | 1 Comment
by Sara M. Langston with the blog faculty
Cirrus Industries, Inc., has agreed to be acquired by China’s state-owned general aviation manufacturer in a major shakeup of the industry sector.
The acquisition, if approved by US authorities, would unite the China Aviation Industry General Aircraft Co (CAIGA) with the Minnesota-based Cirrus, which last year delivered more piston-powered aircraft than any other manufacturer, according to the General Aviation Manufacturers Association (GAMA).
The transaction must be reviewed by the committee on foreign investment in the US (CFIUS) and the Department of Justice under the Hart-Scott-Rodino antitrust improvements act, as well as approved by the Chinese government.