BAE eyes $2bn US assets sale

BAE eyes $2bn US assets sale

September 4, 2021 azwnolxx 0

first_imgSunday 12 September 2010 10:48 pm Show Comments ▼ Tags: NULL KCS-content Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof BAE SYSTEMS, Britain’s largest defence contractor, has put parts of its US commercial aerospace operation on the block in a move that could raise up to $2bn (£1.3bn).In a step to trim its none-core operations ahead of government defence spending cuts in London and Washington, BAE is understood to be soliciting bids for segments of its “platform solutions” subsidiary. One of the units up for sale makes aircraft engine controls and cockpit avionics, while the other manufactures hybrid engines for buses.Investment bankers from JPMorgan and Wells Fargo are said to be advising on the potential disposals. First-round bids are expected within the next four weeks. As well as private equity firms, rivals Moog, Honeywell and Hamilton Sundstrand are expected to show an interest.The news comes amid signs of dire times approaching for companies exposed to reductions western governments’ defence budgets.Last week, BAE chief executive Ian King said he had been asked by ministers to provide detailed financial costs on cancelling both of the planned Royal Navy aircraft carriers. King warned the defence select committee axing the £5bn programme would put Britain’s entire shipbuilding industry at risk. The company also said it would shed 1,000 jobs, mostly in its military air division.BAE declined to comment on any plans to divest assets in the US. center_img whatsapp BAE eyes $2bn US assets sale by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Share whatsapplast_img

 

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