9th Sep 2013 05:48
LONDON (Alliance News) - Dubai Aerospace Enterprise Ltd. or DAE has said that it is no longer in discussions with BBA Aviation Plc. (BBA.L) about a potential combination of some parts of its business.
The DAE is an aerospace company specializing in maintenance, repair and overhaul services, as well as aircraft completions and aircraft leasing. The firm owns US-based StandardAero, a repair and maintenance business.
The privately-held company is headquartered in Dubai. It operates in four continents and employs over 3,700 people.
BBA Aviation provides aviation and aftermarket support services. It operates in two segments, Flight Support and Aftermarket Services.
It was speculated in late August that the two firms were in talks to merge StandardAero, which DAE bought in 2007, with BBA Aviation in a 2.7 billion pounds deal.
Further, the DAE confirmed on August 26 that it is in preliminary discussions with BBA Aviation regarding a potential combination of certain parts of its business and did not provide any other details.
The DAE, in the latest statement, did not say any more details about not being in discussions with BBA Aviation.
BBA.L closed at 318 pence on Friday.
Copyright RTT News/dpa-AFX
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