Dispelling months of speculation, Raytheon confirmed today that it will sell Raytheon Aircraft Company (RAC), makers of the Beechcraft and Hawker aircraft products, to investment banking firm, GS Capital Partners, an affiliate of Goldman Sachs, and Canadian investment firm, Onex Partners, for $3.3 billion.

The new company will be called Hawker Beechcraft Corporation.

Reports that Goldman Sachs/Onex, Carlyle Group and Cerberus were vying for the company had been circulating since late November. Onex in 2005 acquired Boeing Wichita's commercial aircraft division and formed Spirit AeroSystems.

The RAC sale is expected to be completed in the first half of 2007 pending regulatory approvals. The deal does not include two associated RAC businesses, Flight Options, the company’s fractional shares programme, or Raytheon Airline Aviation Services.

Source: FlightGlobal.com