June 11, 2020 / 3:46 PM / 23 days ago

Czech-Hungarian joint venture buys L-39 maker Aero Vodochody

PRAGUE, June 11 (Reuters) - Czech defence and security group Omnipol said on Thursday it had acquired domestic aircraft maker Aero Vodochody Aerospace in a joint venture with Hungarian businessman Andras Tombor.

Under the deal, the Omnipol-Tombor joint venture will buy 100% of the company from Czech-Slovak group Penta Investments, which bought into Aero Vodochody in 2006 and will retain an airport at the site.

Aero Vodochody produces aircraft for military training and light combat, including its own L-39 and new L-39NG designs. Before the coronavirus outbreak hit, it had aimed to double its revenue to as much as 6 billion crowns ($256 million) in 2020. (Reporting by Jason Hovet and Jan Lopatka;Editing by Elaine Hardcastle)

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