Avincis, Babcock in Joint-venture Talks

Helicopter operator Avincis Group and engineering support specialist Babcock International, both UK-based, are in discussions about establishing a joint venture. The talks are exclusive but there is no certainty they will lead to any transaction, the two companies pointed out. The British press has described the talks as a prelude to a likely takeover of Avincis, currently owned by KKR and Investindustrial, by Babcock. However, the two companies dismissed such stories as speculation.