Chinese Aerospace Co. To Pay $1.8B For Hawker Beechcraft

Law360, New York (July 9, 2012, 10:54 PM EDT) -- Bankrupt aircraft manufacturer Hawker Beechcraft Inc. plans to sell its existing jet and general aviation operations to Chinese aerospace manufacturer Superior Aviation Beijing Co. Ltd. for nearly $1.8 billion, the Wichita, Kan.-based firm said Monday.

The deal was negotiated in an exclusivity agreement that would exclude Hawker Beechcraft Defense Co., which would remain separate and keep operating its T-6 trainer program, according to a statement Monday by Hawker Beechcraft.

The deal would allow the foundering aerospace firm a greater access to the Chinese aviation market, which...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.