ST Engineering sells stake in Australia pilot training units for $9.3m

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SINGAPORE - Singapore Technologies Engineering (ST Engineering) on Tuesday (Nov 19) said it has divested its pilot training business in Australia for $9.3 million on a cash-free and debt-free basis to Regional Express Holdings.. Read more at straitstimes.com.

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SINGAPORE - Singapore Technologies Engineering on Tuesday said it has divested its pilot training business in Australia for $9.3 million on a cash-free and debt-free basis to Regional Express Holdings.

The divestment is part of its"ongoing efforts to optimise its business portfolio", the mainboard-listed integrated engineering group said in a regulatory filing. It was arrived at after taking into account current market conditions and the financial positions of ATAA and STAA.

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