Babcock International in talks over £1.5bn helicopter deal

Babcock International, which is involved in the construction of Britain's two new aircraft carriers, confirmed exclusive discussions to form a "joint venture" with Avincis

Babcock International
Babcock International

Engineering services giant Babcock International is in talks over a tie up with the world’s biggest helicopter operator in a deal reportedly worth up to £1.5bn.

Babcock, which is involved in the construction of Britain’s two new aircraft carriers, confirmed exclusive discussions to form a “joint venture” with Avincis, which provides air services from search and rescue to oil rig passenger transport across the world.

It is thought FTSE 100 Index-listed Babcock is looking to buy a significant stake in Avincis, while The Sunday Times reported plans for a takeover that would see it pay £1bn and take on £500m of debt.

Babcock said a deal with Avincis would help it expand in the UK and overseas, but stressed there was no certainty the talks would lead to a transaction.

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