Lufthansa Technik Buys 40% of Hawker Pacific Stock

Lufthansa Technik AG has acquired a controlling interest in Hawker Pacific Aerospace in Sun Valley, the companies announced.

LHT, a wholly owned subsidiary of the German airline Lufthansa, bought 40% of Hawker Pacific’s common stock from the shareholders of Unique Investment Corp. LHT said it could increase its interest to 60% by exchanging convertible stock it has purchased from another private investor group for a $9.3-million investment in Hawker Pacific Aerospace, subject to the approval of Hawker’s shareholders.

Hawker Pacific services aircraft landing gear. The acquisition increases LHT’s presence in North America.