Rolls-Royce, Babcock sell stakes in Air Tanker Holdings
UK engine maker Rolls-Royce and defence engineer Babcock on Monday said they had sold their stakes in in AirTanker Holdings Limited to Equitix Investment Management.
Rolls-Royce is selling its 23.1% shareholding for £189m and Babcock its 15.4% stake for £126m to pay down debt. AirTanker Holdings is an asset joint venture with Airbus, Thales and Rolls-Royce, owning fourteen A330 Voyager aircraft to support air-to-air refuelling, air transport and ancillary services for the UK’s Ministry of Defence.
Both companies said they would retain their holdings in AirTanker Services Limited, which operate the aircraft.