Any definitive agreement reached with Superior
would be subject to approval by the Committee on
Foreign Investment in the United States (CFIUS)
and other regulatory agencies. In addition, any
definitive agreement with Superior will be
subject to termination if another potential
purchaser succeeds in the mandatory competitive
auction process which will be overseen by the
U.S. Bankruptcy Court.
“The agreement we have reached with Superior
provides us with funding to preserve jobs as we
simultaneously negotiate a potential transaction
with Superior and continue to prepare for our
standalone plan described in our preliminary
plan of reorganization and disclosure
statement,” said Robert S. “Steve” Miller, CEO
of Hawker Beechcraft, Inc.
“At this time, pursuing the potential
transaction with Superior is in the best
interests of the company and its various
stakeholders, including our creditors, our
employees, our suppliers and our customers. We
look forward to working toward a definitive
agreement with Superior and continuing to
communicate with all interested parties to
explain the benefits of this proposed
transaction.”
During the exclusivity period, Superior will
perform confirmatory diligence while the two
companies negotiate definitive documentation of
the transaction. If negotiations with Superior
are not concluded in a timely manner, Hawker
Beechcraft will proceed with seeking
confirmation of the Joint Plan of Reorganization
it filed with the U.S. Bankruptcy Court on June
30, 2012, which contemplates Hawker Beechcraft
emerging as a standalone entity with a more
focused portfolio of aircraft.
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