Babcock are also selling their onshore interests. Employees were told yesterday that Ancala Partners was buying Babcock operations in Italy, Spain, Portugal, Norway, Sweden and Finland. The deal is priced at €136.2 million Excluded are operations in UK, France, Canada and Australia, where Babcock also operates defence businesses. The disposed businesses operate 232 aircraft across 164 locations in the six countrie.
232 aircrafts for €136 mn ? Either these operations are massive loss makers or the numbers don't add up.