ST Engineering has been given the green light by regulators in the United States to acquire GE Aviation’s nacelle unit.
The Singapore group said in a statement on Sunday (April 14) afternoon that the acquisition of Middle River Aircraft Systems (MRAS) will close in the week beginning April 15.
“(ST Engineering) has received clearance from Committee on Foreign Investment in the United States (CFIUS).
“With this clearance from CFIUS, ST Engineering has obtained all applicable regulatory approvals to consummate the proposed acquisition,” the statement said.
The deal, worth an estimated net price of $440 million, will see ST Engineering’s US subsidiary, Vision Technologies Aerospace, acquire all the shares of Baltimore, Maryland-based MRAS.
In September last year, ST Engineering announced the conditional share purchase agreement, and said that MRAS was a “strong fit”.
MRAS is the sole supplier of certain nacelle equipment for GE engines powering the Airbus A330, Boeing 747-8, 767, Comac ARJ21 and Embraer 190.
It specialises in the development, production and aftermarket support of nacelles, thrust reversers and aerostructures and employs around 800 staff.
Source: Cirium Dashboard