B/E Aerospace (BEAV) to Acquire Interturbine in EUR 200M Deal
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B/E Aerospace (Nasdaq: BEAV), has signed a definitive agreement to acquire Interturbine Aviation Logistics GmbH, Interturbine Logistics Solutions GmbH, and Interturbine Technologies GmbH (collectively Interturbine), a leading provider of material management logistical services to global airlines and maintenance, repair and overhaul (MRO) providers.
The acquisition purchase price is approximately €200 million in cash.
B/E Aerospace expects this acquisition to be approximately neutral to 2012 and 2013 earnings, and solidly accretive to earnings beginning in 2014. The accretion to operating earnings from the Interturbine transaction in 2013 is expected to be offset by acquisition, integration and transition costs. The transaction is subject to regulatory approval and is expected to close during the fourth quarter of 2012.
Shearman & Sterling LLP acted as legal counsel to B/E Aerospace in connection with the transaction. Steen Associates acted as financial adviser and Graf von Westphalen acted as legal counsel to Interturbine in connection with the transaction.
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The acquisition purchase price is approximately €200 million in cash.
B/E Aerospace expects this acquisition to be approximately neutral to 2012 and 2013 earnings, and solidly accretive to earnings beginning in 2014. The accretion to operating earnings from the Interturbine transaction in 2013 is expected to be offset by acquisition, integration and transition costs. The transaction is subject to regulatory approval and is expected to close during the fourth quarter of 2012.
Shearman & Sterling LLP acted as legal counsel to B/E Aerospace in connection with the transaction. Steen Associates acted as financial adviser and Graf von Westphalen acted as legal counsel to Interturbine in connection with the transaction.
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