Exhicon Events Media Solutions Limited (BSE:543895) agreed to acquire 89.99% stake in United Helicharters Pvt. Ltd. from Gulf Helicopters Company Ltd. on April 23, 2024. The consideration consists of approximately INR 180 million in cash.

As part of the consideration, INR 16.7 million was paid towards common equity and INR 160 million was paid towards non-convertible debt. The deal is expected to be closed within 45 days from the signing date of the Share Purchase Agreement. The deal is subject to fulfilment of condition precedent of the Share Purchase Agreement.

United Helicharters Pvt. Ltd. reported the total revenue of approximately INR 140 in year 2023.