Rolls-Royce Holding plc (OTCMKTS: RYCEY) To Sell Its Stake In AirTanker For £189 Million

Gabane police post gets two new vehicles

Botswana: The rising crime in Gabane and surrounding areas has prompted the Botswana Police Service (BPS) to respond to the situation by issuing two new vehicles to Gabane Police Post.

KFS launches eight utility vehicles to augment forest Protection

Kenya: The Principal Secretary of the State Department of Forestry, Ephantus Kimotho, has urged Kenya Forest Service to lay focus on resource mobilization and stakeholder engagement as a key strategic objective in the growth of the capacity of the Service to implement the 30 percent tree cover target by 2032.

Homa-Bay county schools to compete in tree growing

Kenya: The Governor of Homa-Bay County, Gladys Wanga, has launched a school tree growing competition that will involve all schools in the county in a bid to increase the country's forest cover from the current 3% to 30%.

PR Event in Ebène Cybercity for Flyover Ebène Project

Mauritius: A Public Relations exercise with tenants and stakeholders of Ebène Cybercity in view of the construction of the new interchange along the M3-A14 corridor (Flyover Ebène project) was held on Tuesday, 21 March 2023, at the Shri Atal Bihari Vajpayee Tower in Ebène.

Rolls-Royce Holding plc (OTCMKTS: RYCEY) and Babcock International Group Plc have sold their 39%  interest in AirTanker Holdings Ltd for $435 million, with the UK company looking to enhance its depleted balance sheets.

Rolls-Royce selling its 23% stake in AirTanker 

According to a release on Monday, Equitix Investment Management Ltd. will pay £189 million for Rolls’ 23.1% interest in the air-to-air refueling firm, which serves the Royal Air Force of the United Kingdom, and £126 million for Babcock’s 15.4% stake. The repayment of shareholder loans is included in both figures.

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Rolls-Royce and Babcock have begun recovery efforts and are selling assets in order to concentrate on their core businesses. After the coronavirus affected demand for its huge airplane engines, Rolls intends to generate more than £2 billion via disposals. Babcock CEO David Lockwood is attempting to raise at least £400 million after years of unsatisfactory results.

Despite selling AirTanker Holdings, Rolls-Royce and Babcock will keep their stakes in the services arm, which offers operational support to the RAF’s 14 converted Airbus SE A330 aircraft, known as Voyagers.

Following the revelation, Roll-Royce shares were up 1%, while those of Babcock jumped 0.8%. Both firms are UK-based. 

Buyers targeting UK aerospace and defense firms 

The UK defense and aerospace companies have become targets for a potential acquisition by various buyers, including Private-equity companies. The government is looking at PE-owned Cobham Ltd.’s proposed takeover of Ultra Electronics Holdings Plc. At the same time, business Secretary Kwasi Kwarteng has indicated that he’s keeping an eye on Parker-Hannifin Corp.’s bid to acquire components supplier Meggitt Plc for £6.3 billion.

According to a statement from Ashurst, the law firm assisting the two manufacturers on the sale, the AirTanker sale depends on regulatory approval and should close by the end of 2021. After that, Airbus SE and Thales SA will continue to control the majority of the business. 

Gabane police post gets two new vehicles

Botswana: The rising crime in Gabane and surrounding areas has prompted the Botswana Police Service (BPS) to respond to the situation by issuing two new vehicles to Gabane Police Post.

KFS launches eight utility vehicles to augment forest Protection

Kenya: The Principal Secretary of the State Department of Forestry, Ephantus Kimotho, has urged Kenya Forest Service to lay focus on resource mobilization and stakeholder engagement as a key strategic objective in the growth of the capacity of the Service to implement the 30 percent tree cover target by 2032.

Homa-Bay county schools to compete in tree growing

Kenya: The Governor of Homa-Bay County, Gladys Wanga, has launched a school tree growing competition that will involve all schools in the county in a bid to increase the country's forest cover from the current 3% to 30%.

PR Event in Ebène Cybercity for Flyover Ebène Project

Mauritius: A Public Relations exercise with tenants and stakeholders of Ebène Cybercity in view of the construction of the new interchange along the M3-A14 corridor (Flyover Ebène project) was held on Tuesday, 21 March 2023, at the Shri Atal Bihari Vajpayee Tower in Ebène.

Mauritius Qualifications Authority renews RPL Support Scheme

Mauritius: The Recognition of Prior Learning (RPL) Support Scheme, a process to officially recognise and validate competencies gained outside the formal education and training system for the purpose of certification, was renewed yesterday, between the Human Resource Development Council (HRDC) and the Mauritius Qualifications Authority (MQA), during a ceremony held at the Shri Atal Bihari Vajpayee Tower, in Ebène. The event was followed by a workshop on Portfolio Development for 100 new potential candidates.

Dominica: PM Roosevelt Skerrit welcomes Mexican delegation AMEXCID

Dominica: Dr Roosevelt Skerrit, the Prime Minister of the Commonwealth of Dominica, received a group from the Mexican Agency for International Development Cooperation (AMEXCID) led by its Executive Director, Dr Laura Elena Carrillo Cubillas, and extended a warm welcome on March 23, 2022.