Babcock Announces Sale Of Stake In AirTanker Holdings - Quick Facts

Babcock (BAB.L) has agreed with Equitix Investment Management Limited for the sale of 15.4% shareholding in AirTanker Holdings Limited for 126 million pounds. Babcock retains its 23.5% shareholding in AirTanker Services Limited.

Babcock said the sale is part of its ongoing targeted disposal programme, which aims to generate at least 400 million pounds of proceeds. Proceeds from the deal will be used to reduce net debt.

AirTanker Holdings is an asset joint venture with Airbus, Thales and Rolls-Royce. It supports air-to-air refuelling, air transport and ancillary services for UK Ministry of Defence.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Boeing expects Europe's commercial aviation fleet to need 8,705 new airplanes through 2040 to cater to the growing leisure travel market in the region and fleet replacements with more fuel-efficient models, according to the Boeing's 2021 Commercial Market Outlook (CMO), an annual forecast of long-term demand for commercial airplanes and services. The U.S. Food and Drug Administration authorized marketing of a software developed by Paige.AI, a provider of AI-based digital diagnostics, which could help pathologists to identify prostate cancer. The software, called Paige Prostate, is the first and only artificial intelligence or AI-based pathology product to receive FDA approval for in vitro diagnostic or IVD use in detecting cancer... General Mills (GIS) said its first-quarter top- and bottom-line results were ahead of its expectations. The company also reaffirmed its fiscal 2022 outlook. Looking forward, General Mills anticipates changes in consumer behaviors driven by the COVID-19 pandemic will result in ongoing elevated consumer...
Follow RTT