ST Engg to buy General Electric unit for US$630m
MRA Systems makes airplane engine casings, a business poised for growth as global aircraft fleet expands
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Singapore
MAINBOARD-listed Singapore Technologies Engineering (ST Engineering) has agreed to acquire General Electric's MRA Systems LLC (MRAS) - in what will be its largest takeover to date - for some US$630 million.
ST Engineering's US subsidiary, Vision Technologies Aerospace, has entered into the agreement on a "cash-free, debt-free basis", subject to closing adjustments for underfunded pension obligations, and other debt-like items.
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