CHARTER plc Disposal of Howden Airdynamics, Inc. and Western Design Howden, Inc. (“the US Defence Businesses”) (the “Disposal”)
11/12/2003
The Board of Charter plc announces that, following receipt of “Exon-Florio” clearance from the US Government, the disposal of the US Defence Businesses to two wholly owned indirect subsidiaries of Meggitt PLC has been completed for a cash consideration of approximately US$45.0 million (£26.8 million). The net cash proceeds are being used to reduce the group’s indebtedness.
Contact
Andrew Fenwick, Pamela Small, Brunswick +44 (0) 20 7404 5959