Outsourcing and support services provider Babcock is in "exclusive discussions" about the possibility of creating a joint venture with regards to helicopter operator Avincis, which owns Bond Offshore Helicopters and Bond Air Services in the UK.
Neither party was prepared to comment on the precise nature of the talks, but speculation has centred on Babcock potentially acquiring a stake in Avincis for as much as £1.5 billion ($2.42 billion).
Avincis is owned by US private equity firm KKR and Italy's Investindustrial. Its operating companies include Bond, Spanish firm Inaer and Australian Helicopters and its fleet totals 307 helicopters and 49 fixed-wing types.
Babcock already has interests in the aviation segment through its provision of training for the UK's Royal Air Force.
Source: FlightGlobal.com
