|
Babcock Onshore for sale?
Struggling defence contractor Babcock in talks to offload emergency aviation armBabcock International is in talks to sell most of a troublesome division that provides emergency plane and helicopter services. The FTSE 250 defence contractor is negotiating with infrastructure investor Ancala Partners to offload a large stake in the business. It is the latest in a string of sales overseen by Babcock boss David Lockwood to turn the company around after years of under performance. The emergency aviation services arm operates the UK's Air Ambulance fleet, search and rescue operations abroad and firefighting planes and helicopters..... |
Paying 1.6b and selling the only profitable element for 100m must sting a tadge
|
CEO Mr Lockwood goes from company to company, selling off, asset stripping, and preparing FTSE listed companies for purchase by private equity firms. See Laird's and Cobham's purchase by Advent as examples.
Just conjecture and * stirring at this point, but will be interesting to see what happens at Babcock over the coming years. |
I have to admit my ignorance here, but I had never heard of Ancala Partners. Google "research" shows they also have a shareholding in Liverpool airport.
|
| All times are GMT. The time now is 11:45. |
Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.