1st Sep 2021 09:16
Babcock International Group PLC - London-headquartered aerospace and defence contractor - Completes sale of oil & gas aviation business to CHC Group LLC for cash consideration of GBP10 million. The Aberdeen-headquartered unit provides offshore oil and gas crew transportation services in the UK, Denmark and Australia. "This disposal is part of our plan to streamline and focus the group on our key markets. Divesting at least GBP400 million of businesses will enable us to reduce complexity and increase our focus as we return Babcock to strength," says Chief Executive David Lockwood.
Current stock price: 367.10 pence, up 1.1% on Wednesday
Year-to-date change: up 31%
By Lucy Heming;Â [email protected]
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