logo
Plus   Neg
Share
Email

Meggitt Sells Meggitt Training Systems To Pine Island Capital For $146 Mln

Aerospace, defence and energy company Meggitt Plc. (MGGT.L) said Wednesday that it has sold its US subsidiary, Meggitt Training Systems, to a US private investment firm Pine Island Capital Partners LLC, for $146 million in cash. The sale was completed on 30 June 2020.

The company said that it will use net proceeds from the sale for general corporate purposes and will further strengthen the Group's liquidity.

The company stated that the transaction is consistent with the Group's strategy to focus on businesses of scale in markets.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
A new class-action lawsuit filed against Facebook accuses the company's photo and video-sharing app Instagram of illegally collecting biometric data of as many as 100 million users without their consent, according to reports. The lawsuit filed in a state court in California, alleges that Instagram uses its photo-tagging technology to create a database of users' facial features. Stein Mart, Inc. has joined the ever growing list of U.S. retailers who filed for bankruptcy protection amid the ongoing coronavirus (COVID-19) pandemic. The beleaguered off-price retailer filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Middle District of Florida. United Airlines said it is adding up to 28 daily nonstop flights this winter to Florida, in its efforts to manage the impact of COVID-19. The airline is increasing services to 'destinations where customers most want to fly'. The new round trip services will connect customers in Boston, Cleveland, Indianapolis, Milwaukee, New York/LaGuardia, Pittsburgh and Columbus, Ohio to four popular Florida...
Follow RTT