Singapore Technologies Engineering (ST Engineering) has announced the divestment of 25% equity interest in its indirect associates, Airbus Helicopters South East Asia (AHSA) to the joint venture partner, Airbus Helicopters SAS (Airbus Helicopters) of France.
The consideration for the 25% stake is €9.125 million (approximately S$14 million) which will be paid wholly in cash.
AHSA was set up between ST Engineering and Airbus Helicopters in 1977 to provide helicopter sales, repair, overhaul, logistics and product support services. The divestment of AHSA is a result of ST Engineering’s ongoing business review to streamline capabilities and optimise resources within its aerospace sector and is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.
With this divestment, AHSA ceases to be an indirectly held associated company/joint venture of ST Engineering.
