Singapore-based ST Engineering has received regulatory approvals for the proposed acquisition of MRA Systems (MRAS) from General Electric (GE).

In September, ST Engineering’s US subsidiary Vision Technologies Aerospace (VT Aerospace) entered a conditional share purchase agreement to acquire MRAS.

According to the agreement, the purchase consideration to acquire 100% ownership in MRAS is $630m on a cash-free and debt-free basis.

In a statement, the company said: “ST Engineering wishes to provide an update that all applicable anti-trust approvals for the proposed acquisition have been obtained, and that it is pending usual clearance from the Committee on Foreign Investment in the United States.

“Subject to the remaining conditions to completion of the proposed acquisition being satisfied or waived pursuant to the agreement at closing, the proposed acquisition is expected to close in the second quarter of 2019.”

“ST Engineering wishes to provide an update that all applicable anti-trust approvals for the proposed acquisition have been obtained.”

According to ST Engineering, the acquisition will allow it to move into the original equipment manufacturer (OEM) business of high-value nacelle components and replacement parts.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Based in Maryland with approximately 800 employees, MRAS is an established OEM of engine nacelle systems for both narrow-body and wide-body aircraft.

It has received several single-source contracts in support of mature and next-generation nacelle programmes.

The company is currently supporting the next-generation programme A320neo powered by CFM International’s LEAP-1A engine in partnership with Safran Nacelles.

MRAS’ nacelles are also used on Bombardier’s Global 7000/8000 series of next-generation private/business jet.