Melrose Industries - Sundry Disposals
Melrose Industries announces today that it has agreed to sell Walterscheid Powertrain Group, (previously known as GKN Off Highway Powertrain), a leading provider of original equipment and aftermarket parts and services for off-highway powertrain applications to One Equity Partners a US-based private equity firm. In addition, Melrose announces that its subsidiary, Fokker Aerospace B.V, has completed the sale of its minority 43.57% interest in Société Anonyme Belge de Constructions Aéronautiques (SABCA), which manufactures components for aircraft and space launchers, to SABCA's majority shareholder, Dassault Belgique Aviation S.A. The sale of Walterscheid is subject to the customary regulatory conditions and is expected to complete in the first half of this year. The combined net proceeds of the sales are approximately £200 million.