VSE Corporation (VSEC) announced today that it has signed a definitive agreement to acquire four business units from Killick Aerospace Group, consisting of Prime Turbines (including both U.S. and Germany-based operations), CT Aerospace, Kansas Aviation and Air Parts & Supply Co. The companies to be acquired specialize in maintenance, repair and overhaul (MRO) services and parts supply for corporate and regional jet aircraft engines and engine accessories. The initial purchase price payable upon the closing is approximately $184 million in cash. The purchase agreement also includes potential post-closing payments of up to $40 million if CT Aerospace, Kansas Aviation and Air Parts & Supply Co. surpass certain thresholds of earnings before interest, taxes, depreciation and amortization (“EBITDA”) during the first two years after the closing and one additional post closing payment of $5 million if such companies surpass a certain EBITDA threshold during any 12-consecutive month period in 2014 and 2015. Other purchase price adjustments also may be required based on certain post-closing determinations, including in respect of the closing net working capital and certain inventory and equipment.
The four business units combined sales and income before taxes are estimated to be approximately $111 million and $22 million, respectively, for the year ending December 31, 2014. Such estimated results are not necessarily indicative of future financial performance and the actual results of the four business units for 2014 may differ from the estimated results. The four business units have approximately 185 employees.
Posted in 2015 Recap, Bond Market, Breaking news, Economy, emerging market, Events, Finance
Tagged Arent Fox LLP, CT Aerospace, Golden Networking, Kansas Aviation and Air Parts & Supply Co., Killick AerospacePrime Turbines, Merger and Acquisition, Modern Finance Report, Paul Goffredi, Pratt & Whitney GE Aviation, turboprop engine, VSE Corporation
Eastern Property Holdings (“EPH” or the “Company”) would like to announce that it has acquired ownership of the A-Class office complex Hermitage Plaza located in Tverskoy central district of Moscow, in the center of Moscow`s business life. The cash payment for the acquisition of the property amounts to US$ 195 million, subject to possible post-completion adjustments.
Hermitage Plaza is a multi-storey A-Class business center fronting on Garden Ring, one of Moscow`s most important transport routes, and located in proximity to the Kremlin area and close to Mayakovskaya and Novoslobodskaya metro stations. The business center was fully renovated and opened in 2006. Hermitage Plaza with a total leasable area of above 30,000 sqm is fully rented out to mainly one tenant, Russian Telecommunication Company Vimpelcom.
Posted in 2015 Recap, Bond Market, Breaking news, Economy, emerging market, equity trading
Tagged A-Class, Eastern Property, Economy, EPH, Europe, Garden Ring, Global Economy, Golden Networking, Hermitage Plaza, Merger and Acquisition, Modern Finance Report, Real Estate, Swiss Exchange-listed, Valartis International Ltd.
Time Warner Inc. (TWX) and CBS Corp. (CBS) have flirted for years. A marriage now may make more sense than ever.
CBS shares, while trading near thehighest price since the company andViacom Inc. (VIAB) split seven years ago, fetch the lowest valuation versus earnings when compared with its five largest U.S. peers, according to data compiled by Bloomberg. Gabelli & Co. said buying the most-watched broadcast network would give Time Warner, owner of cable channels such as CNN and TNT, more negotiating leverage to win higher fees from pay-television systems that carry its programming.
A merger “makes a lot of sense,” Michael Morris, a Richmond, Virginia-based analyst at Davenport & Co., said in a telephone interview. “With the amount of collaboration they do, investors see it as a possibility as well.”
Posted in 2015 Recap, Breaking news, emerging market, equity capital market, M&A
Tagged Bloomberg. Gabelli & Co., CBS, Comcast (CMCSA) Corp., Golden Networking, HBO, howtime, M&A, Merger and Acquisition, Michael Morris, Modern Finance Report, NBC Universal, Redstone, Sinclair Broadcast Group Inc. (SBGI), Summer Wilkie, Thrivent for Lutherans, Time Warner, TNT, Viacom Inc., Walt Disney Co. (DIS)