M&M in talks to acquire stake in Beechcraft: reports

Discussion in 'Military Aviation' started by Sridhar, Jul 5, 2012.

  1. Sridhar

    Sridhar House keeper Moderator

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    05 July 2012



    India's biggest utility vehicles maker Mahindra & Mahindra Ltd is considering placing a bid for bankrupt aircraft maker Hawker Beechcraft Corporation, in an attempt to further strengthen its aerospace business.

    M&M, which had been looking to expand its aerospace business, could explore the possibilities of acquiring the American company, according to various media reports.

    Beechcraft, which makes both civilian and military aircraft, and was acquired by investment firms Goldman Sachs and Onex Corp in a leveraged buyout in 2007 for $3.3 billion, had filed for bankruptcy under Chapter 11 on 3 May.

    Mahindra Group, which formed its aerospace division in 2007, makes light aircraft, as well as parts for Boeing 737s, Gulfstream Aerospace Corp business jets and Lockheed Martin Corp's F-35 fighters.

    The reports quoted an M&M spokesperson as saying the company doesn't comment on speculation.

    Earlier, Beechcraft made a disclosure stating it has received offers from more than 35 possible buyers and investors. The firm had also contacted 15 suitors based on strategic fit, financial capability and other considerations, according to an official filing in the US.

    Beechcraft intends reduce the company's total funded debt of more than $2.5 billion. The company had also resorted to job cuts under an attempt to stay afloat.

    domain-b.com : M&M in talks to acquire stake in Beechcraft: reports
     
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  3. warriorextreme

    warriorextreme Senior Member Senior Member

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    Beechcraft T-6 Texan II (based on Pilatus PC-9)

    [​IMG]
     
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  4. warriorextreme

    warriorextreme Senior Member Senior Member

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  5. Patriot

    Patriot Senior Member Senior Member

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    It is a very positive development, if this deal happens. Though baby steps yet M& M group have taken some very strategic business decisions over the last five years.

    Over a period of time M&M may emerge as decent aerospace player in India.

    I wish some rat race start in this from other major business groups by taking over or mergers with foreign cos.
     
  6. Zebra

    Zebra Senior Member Senior Member

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    jalsa and Sridhar like this.
  7. Zebra

    Zebra Senior Member Senior Member

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  8. Zebra

    Zebra Senior Member Senior Member

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    Hawker Beechcraft in talks with Chinese company for $1.8 billion sale

    By Alison Leung and Fang Yan

    HONG KONG/BEIJING | Tue Jul 10, 2012 3:05am EDT

    (Reuters) - Bankrupt aircraft maker Hawker Beechcraft Inc, owned by Goldman Sachs (GS.N) and Onex Corp (OCX.TO), said it is in exclusive talks with a little-known Chinese aerospace firm over the sale of the company for $1.79 billion, an offer that may flush out higher bids from other parties.

    full article: Hawker Beechcraft in talks with Chinese company for $1.8 billion sale | Reuters
     
  9. Tolaha

    Tolaha Senior Member Senior Member

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    The question here is will the US let this deal happen, as HBDC is not part of the transaction?
     
  10. Zebra

    Zebra Senior Member Senior Member

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  11. Sam2012

    Sam2012 Tihar Jail Banned

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    Mahindra should emerge as aviation giant that will really help indian defence aerospace & kick out HAL monopoly , Govt should provide them chance to produce UAV, helicopter & even fighters putting every thing under HAL kitty is foolish they never keep up the timeline & quality is also big issue eg: BAE hawk license production

    Privatization is the the way to go :)
     

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