It is optimising its aerospace resources.
Singapore Technologies Engineering (ST Engineering) sold its 25% equity interest in its indirect associate, Airbus Helicopters South East Asia Pte. Ltd. (AHSA) to the joint venture partner, Airbus Helicopters SAS (Airbus Helicopters) of France.
According to an announcement, the consideration for the 25% stake is $14m (€9.125m). 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,” the company said.
With this divestment, AHSA ceases to be an indirectly held associated company/joint venture of ST Engineering.
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