SINGAPORE --- Singapore Technologies Engineering Ltd (ST Engineering) refers to its earlier announcements made on 13 September 2018 (collectively, “Announcements”) in relation to the entry by its US subsidiary, Vision Technologies Aerospace Incorporated, into a conditional share purchase agreement (the “Agreement”) to acquire a 100% ownership in MRA Systems, LLC (MRAS) from General Electric Company (the “Proposed Acquisition”).
Further to the Announcements, 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 is a global technology, defence and engineering group specialising in the aerospace, electronics, land systems and marine sectors. The Group employs about 22,000 people across offices in Asia, the Americas, Europe and the Middle East, serving customers in the defence, government and commercial segments in more than 100 countries.