LFV and Eltel signs a Letter of Intent

LFV, Air Navigation Services of Sweden, and Eltel have signed a Letter of Intent with intention to aquire Eltel’s Swedish business area Aviation and Security. In the Letter of Intent, both parties agree to have a final agreement to be signed during first quarter 2020.

According to LFV’s sourcing strategy, resumed national defense capability, external changes as well as a new national law, LFV has done the assessment that the support of our operational system, currently delivered by Eltel, shall be insourced. – Support of our operational systems is an important part of LFV’s core service, an efficient and safe air navigation services for civil and military air traffic and therefore we are very positive about signing a letter of intent, says Ann Persson Grivas, Director General LFV.

The business area Aviation & Security supplies technical operations and maintenance services to air traffic control centres, airports, other government agencies and companies in Sweden. In 2018, Eltel had sales of EUR 30 millions and about 200 employees in its Aviation & Security operations.

The definitive agreement is conditional on approval by the respective’s party’s board. Following signing the letter of intent, LFV will conduct a due dilligence of the business.

Read the full post on LFV.