ST Aerospace Systems has acquired the remaining 50% stake in Singapore Precision Repair and Overhaul Pte Ltd (S-PRO), from Messier-Bugatti-Dowty (Safran), for a cash consideration of $8.15m. Following the acquisition, S-PRO will become a wholly-owned subsidiary of ST Aerospace Systems, which in turn is a wholly-owned subsidiary of Singapore Technologies Aerospace Ltd (ST Aerospace), the aerospace arm of ST Engineering. The purchase consideration was arrived at, after negotiations between the parties, taking into consideration S-PRO’s past performance, its current profitability and future growth prospects. S-PRO, based in Singapore, specialises in the repair and overhaul of aircraft landing gear systems and
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