The Carlyle Group plans to offer 15% of its holding in US engine-castings giant Howmet for sale to the public. Carlyle, an aerospace/defence-acquisition company, took 51% of Howmet two years ago in a joint buy-out with Thiokol, which holds 49%. A further 13% of Carlyle's stock will be sold to Thiokol, giving it a controlling 62% interest. The deals are expected to be completed in December.
Source: Flight International