Babcock International Group PLC

Regulatory Filings • May 16, 2014

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RNS Number : 3454H

Babcock International Group PLC

16 May 2014

BABCOCK INTERNATIONAL GROUP PLC ("BABCOCK")

16 May 2014

Completion of Acquisition

Babcock is pleased to announce that it has today completed the acquisition of Avincis.

Avincis is a leading provider of helicopter and fixed wing services in mission critical operations such as medical, search and rescue, fire-fighting and civil protection in Europe and a leading supplier of critical offshore crew-change helicopter services to the oil and gas industry in the UK sector of the North Sea, with a clear ambition to expand its operations in the growing Norwegian and Australian offshore oil and gas markets.

As stated at the time of announcement of the Acquisition, the Board considers that the Acquisition will create a strong platform for future growth and enhance value for shareholders, employees and customers.

Peter Rogers, Chief Executive of Babcock, said:

"The acquisition of Avincis meets Babcock's strategic objectives as it brings into the Babcock Group a market-leading business, delivering mission critical services and complex engineering support to blue-chip customers in multiple geographies. Avincis already has a strong growth platform and its combination with Babcock will generate even greater expansion opportunities and value creation for Babcock's shareholders."

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For further information please contact:

Babcock International Group PLC
+44 (0)20 7355 5331
Terri Wright, Head of Investor Relations

J.P. Morgan Cazenove
+44 (0) 20 7588 2828
Andrew Truscott
Greg Chamberlain
Christopher Dickinson

Jefferies International Limited
+44 (0) 20 7029 8000
Antonia Rowan
Paul Nicholls
Lee Morton

FTI Consulting
+44 (0) 20 3727 1374
Richard Mountain

This information is provided by RNS

The company news service from the London Stock Exchange

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