B/E Aerospace explores options, including sale
05 May 2014
B/E Aerospace, the world's top manufacturer of aircraft passenger cabin interior products, yesterday said that it is exploring strategic alternatives, including a possible sale, merger or the spin-off of selected businesses.
The company also announced that it had postponed its 5 May investor meeting.
The Florida-based company added that it has retained Citigroup as its financial advisor and Shearman & Sterling LLP as its legal advisor in connection with this process.
"No decision has been made and there can be no assurance that the board's exploration of the company`s strategic alternatives will result in any transaction being entered into or consummated," B/E Aerospace said in the release.
The company said it has not set a timetable for completion of this process and does not intend to discuss or disclose further developments with respect to this process unless and until the board of directors approves a specific transaction or otherwise concludes the review of strategic alternatives.
B/E Aerospace, which has a market value of $9.4 billion, is the world's leading manufacturer of aircraft cabin interior products and the world's leading provider of aerospace fasteners, consumables and logistics services.
B/E Aerospace designs, develops and manufactures a broad range of products for both commercial aircraft and business jets, including aircraft cabin seating, lighting systems, oxygen systems, food and beverage preparation and storage equipment, galley systems, and modular lavatory systems.
The Nasdaq-listed company posted net income of $366 million in 2013 on revenues of $3.5 billion.
