July 30, 2019 / 6:40 AM / a month ago

BBA Aviation sells aircraft parts unit in $1.37 bln deal

July 30 (Reuters) - BBA Aviation Plc said on Tuesday that it agreed to sell its Ontic aircraft parts and services unit to private equity firm CVC Capital Partners’ CVC Fund VII for an enterprise value of $1.37 billion.

The aviation services provider said that the deal, which is unanimously supported by its board, should return between $750 million and $850 million to shareholders.

Reporting by Justin George Varghese in Bengaluru; editing by Patrick Graham

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