Malaysia Aviation Group signs deal to buy Airbus unit Sepang Aircraft Engineering (updated)
UPDATE 1-Malaysia Aviation Group signs deal to buy Airbus unit Sepang Aircraft Engineering Adds details
KUALA LUMPUR, Oct 1 (Reuters) - Malaysia Aviation Group, the parent of national carrier Malaysia Airlines, said on Thursday it has signed a sale and purchase agreement to acquire Airbus AIR.PA unit Sepang Aircraft Engineering.
The proposed acquisition will support MAG's long-term business plan to strengthen its engineering and maintenance capabilities, expand its services portfolio and grow third-party revenue, it said in a statement.
No deal value was disclosed.
The transaction, targeted for completion in 2027, remains subject to the fulfillment of customary conditions, including approval from Malaysia's civil aviation authority, MAG said.
(Reporting by Rozanna Latiff; Editing by Martin Petty)
((rozanna.latiff@thomsonreuters.com))
Recent news on Airbus SE
See all newsBrief: Airbus Projects Global Freighter Fleet To Grow 46% By 2045
Brief: Airbus Projects Global Freighter Fleet To Almost Double By 2045
LATAM says capacity growth tracking to lower end of guidance as fuel stays high
Brief: Air China Says Shareholder Meeting To Deliberate on Airbus Aircraft Purchase Proposals
Bomb threat forces Austrian Tel Aviv-Vienna flight to land in Bulgaria (updated)