BAE Systems to sell regional aircraft fleet and asset management business

BAE Systems announced an agreement to sell its commercial aircraft lease portfolio and Asset Management business to investment affiliates of certain funds managed by Fortress Investment Group LLC. The sale, which is expected to close in the third quarter of 2011, is for a cash consideration of $187 million, subject to certain post-completion adjustments. Completion is conditional, amongst other things upon regulatory approval. The business, known as BAE Systems Asset Management, is the world