JUST WEEKS after the tie-up talks were revealed, discussions between London-listed BBA Aviation and StandardAero have come to an end.
Dubai Aerospace Enterprise (DAE), owner of US-based engine repair and maintenance business StandardAero, said yesterday it was no longer in talks with aircraft services firm BBA Aviation to merge parts of its business.
The two firms had said in late August that they had started talks to merge some of their assets, after media reports said that FTSE 250-listed BBA was looking at a £2.7bn tie-up with Arizona-based StandardAero.
“Dubai Aerospace Enterprise announced today it is no longer in discussions with BBA Aviation about a potential combination of certain parts of its business,” DAE said in an emailed statement.
A source with direct knowledge of the matter said there was no formal sale process in place yet for StandardAero.
“BBA had made a preliminary approach and discussions were at an early stage. Obviously the asset is for sale but the price has to be right for both the parties,” said the source yesterday.
City A.M. Reporter