LONDON: British aircraft services company BBA Aviation, which specialises in servicing business jets, is in talks with US rival StandardAero over a 2.7 billion pound ($4.2 billion) tie-up, the Sunday Times newspaper reported.
The paper, citing no sources, said the deal would hand Dubai Aerospace Enterprise, owner of Arizona-based engine repair and maintenance business StandardAero, a large stake in the combined business.
BBA already makes three-quarters of its profits in the United States. At Friday's closing price of 307.1 pence, BBA is worth 1.4 billion pounds. The paper said Dubai Aerospace was seeking 1.3 billion pounds for StandardAero, which it bought six years ago.
Neither company was immediately available for comment.
Comments
Comments are closed.