Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

BAE Gets ‘High Level’ of Interest for Platform Solutions Unit

Dec. 3 (Bloomberg) -- BAE Systems Plc, Europe’s largest defense company, said the potential sale of its unit making components for aircraft and hybrid vehicles is generating “quite a high level of interest” among suitors.

The size of the bids received for platform solutions will determine whether BAE opts to sell the business or keep it, investor relations director Andy Wrathall said at a conference.

The sale process hasn’t yet reached the stage where a date for announcing a buyer can be forecast, Wrathall said. General Electric Co., Eaton Corp. and Honeywell International Inc. are among the bidders for platform solutions, as are several private equity firms, Reuters reported Nov. 8, citing people familiar with the process. The business is expected to fetch $2 billion, Reuters said.

Wrathall spoke at a Credit Suisse aerospace and defense conference in New York yesterday. Farnborough, England-based BAE spokeswoman Kate Watcham confirmed his comments by phone today.

To contact the reporter on this story: Howard Mustoe in London at hmustoe@bloomberg.net.

To contact the editors responsible for this story: Colin Keatinge at ckeatinge@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.