Xi'an Aircraft International to acquire 91.25% of Austrian aircraft parts maker FACC

Xi'an Aircraft International (XAC) has agreed to acquire 91.25% of Austrian aircraft parts manufacturer, FACC, from Oesterreichische Salinen and Raiffeisen Landesbank Oberoesterreich (Reuters, 05-Oct-2009). The agreement expected to close by year-end, subject to regulatory approvals, involving a EUR40 million equity injection into FACC.