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14 September 2010 ,
Written by Dhruv Tanwar
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Defense firm BAE Systems has confirmed that it is seeking options for its aircraft avionics business Platform Solutions based in New York.
 “The company regularly reviews its business portfolio to ensure it is delivering the best value for shareholders and customers. Against this background BAE Systems confirms that it has engaged Wells Fargo and JP Morgan to advise on strategic options with regard to the Platform Solutions business, including a possible sale. There can be no certainty that any transaction with respect to the Platform Solutions business will occur,” the company said in a statement on its website.
Reports said that the sale could be either the entire business, or a part of it, pegging the estimated value between £650 million and £1.3 billion, and speculating on a long list of possible investors, from large players in the aerospace industry to private equity firms. Reports also said that proceeds from any option, if exercised, would most likely be used for acquisitions either in support services or the cyber-security businesses. |