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January 2019

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SIA Engineering Company (SIAEC) has entered into an agreement with Heston Services Limited (Heston) for the divestment of 100% of the issued share capital of SIAEC’s wholly owned subsidiary, Aircraft Maintenance Services Australia (AMSA). AMSA is based in Australia, and is in the business of providing line maintenance services in major Australian airports. The divestment of AMSA is in line with SIAEC’s overall strategy to streamline and rationalise its line maintenance international operations, and to focus on areas of high growth potential and competitive advantage.

SIAEC will receive an estimated A$4.5 million in cash upon the completion of the divestment. The consideration for the divestment was arrived at after arm’s length negotiations, on a ‘willing-buyer, willing-seller’ basis, and after taking into account, inter alia, the net asset value and financial performance of AMSA. No valuation was performed for the purpose of the divestment.


TAT Group has entered into exclusive negotiations with the investment companies Sagard, Bpifrance and TowerBrook to sell them its majority interest in its subsidiary Sabena technics. The sale should be finalised during the second quarter of 2019, subject to the completion of this procedure and the approval of the supervisory authorities.


This shareholder evolution will be an important step for Sabena technics’ development by reinforcing its growth opportunities while accompanying the successful implementation of its strategic plan, which aims at a turnover of €600 million in 2021. This development will also give the Group significant resources to expand its offer through external growth, with the constant goal of better serving its customers using skills or locations that complement its own.

TAT Group will remain a minority shareholder and its current chairman, Rodolphe Marchais, will take over the presidency of Sabena technics’ supervisory board. Philippe Rochet will become the executive CEO and shareholder of the Group alongside the group’s senior executives, Jean Marc Schaefer, Gilles Foultier, Philippe Delisle and Fabrice Dumas, who are all continuing in their positions.


The Carlyle Group has agreed to acquire StandardAero from Veritas Capital. The transaction is subject to customary regulatory conditions, and is expected to close by the end of the first quarter of 2019. Financial terms were not disclosed.

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