Singapore’s ST Engineering divests its 25% interest in AHSA joint venture

Singaporean investment company Temasek-controlled Singaporean Technologies Engineering (ST Engineering) has divested its 25 percent equity interest in Airbus Helicopters Southeast Asia (AHSA) to its joint venture partner, Airbus Helicopters of France, for $10.62 million in cash. 

ST Engineering said that the divestment of AHSA is a result of its ongoing business review to streamline capabilities and optimize resources within its aerospace sector.

The deal is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.

With this divestment, AHSA ceases to be an indirectly held associated company and a joint venture of ST Engineering.