Bombardier signs share purchase agreements with Lufthansa Technik and ExecuJet Aviation. Credit: Anna Zvereva via flickr.

Global company Bombardier has reached share purchase agreements (SPAs) with Lufthansa Technik and ExecuJet Aviation Group.

As part of the agreements, Bombardier will acquire all of the issued and outstanding shares of the Lufthansa Bombardier Aviation Services (LBAS) joint venture.

Bombardier Aerospace already owns 29% in LBAS while Lufthansa Technik holds 51% and ExecuJet Aviation has 20% in the joint venture.

The acquisition will enable Bombardier to advance its global customer service expansion plans by setting up a wholly owned service centre in Berlin, Germany.

Bombardier Aviation customer experience vice-president and general manager Jean-Christophe Gallagher said: “Bombardier has had a strong presence in Germany for many years, and we are proud that these significant transactions will continue to grow our presence in Europe as we work towards establishing a wholly owned Bombardier service centre in Berlin.

“This investment is critical to the expansion of our service footprint in Europe and around the world, and as the service centre is set to become a wholly-owned Bombardier service centre, our customers will benefit from even more advantages and expertise offered by the OEM.”

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Located at Berlin-Schönefeld Airport, the more than 160,000ft² service centre LBAS offers MRO services to Bombardier business aircraft customers and has 240 highly skilled employees on-site.

The deal is subject to customary closing conditions and expected to be completed before the end of the year.

In June, Bombardier completed the divesture of the CRJ Series aircraft programme to Mitsubishi Heavy Industries (MHI) in a $550m cash consideration.