Avincis Group confirms Joint Venture talks with Babcock International

Avincis Group confirms Joint Venture talks with Babcock International

25-Nov-2013 Source: Avincis & Babcock

HeliHub.com editor note – Below we reproduce the statements from Avincis and Babcock following the original article in the Sunday Times which HeliHub.com ran yesterday.  There is  a clear difference in these statements to the general media approach.  Both statements refer to “Joint Venture” while the press are saying Babcock is seeking to buy Avincis for approx £1.5 Billion.  First, the statement from Avincis

Following speculation in the press, Avincis Group (Avincis), a leading international provider of aviation services for mission critical operations, confirms that it is in exclusive discussions regarding the establishment of a joint venture with Babcock International Group PLC, the UK’s leading engineering support services company.

However, there can be no certainty that these discussions will lead to any transaction or any certainty as to the terms upon which any such transaction might proceed. A further announcement will be made if and when appropriate.

A conference call with investors will be held on November 28, 2013 at 9:00 AM GMT

Meanwhile, the Babcock statement says this….

Following speculation in the press, Babcock International Group PLC confirms that it is in exclusive discussions regarding the establishment of a joint venture with respect to Avincis.  Avincis is a leading provider of aviation services for mission-critical operations such as medical emergency, civil protection, search and rescue, coast and city surveillance, firefighting and energy support services.  This initiative is in line with Babcock’s stated strategy to grow from its position as the UK’s leading engineering support services Company in both the UK and overseas.

However, there can be no certainty that these discussions will lead to any transaction or any certainty as to the terms upon which any such transaction might proceed. A further announcement will be made if and when appropriate.

, , , , , , , ,

Copyright © 2022 HeliHub

Website by Design Inc

Helihub logo

X