Cirrus Aircraft Sold to Chinese Interests

China Aviation Industry General Aircraft (Caiga) of Zhuhai, China, has completed its acquisition of Duluth, Minn.-based Cirrus Aircraft. Sellers include private-equity firm Arcapita, which owned 60 percent of Cirrus, and Cirrus chairman and cofounder Alan Klapmeier. The plan to buy 100 percent of the light aircraft manufacturer for an estimated $210 million - minus Cirrus' outstanding debts - was announced on February 28. However, U.S. concerns about technology transfer delayed the consummation of the agreement.