Textron Inc., the maker of Cessna planes, reportedly agreed to takeover aircraft manufactured Beechcraft Corporation for $1.4 billion. Beechcraft has put up itself for sale after emerging from a bankruptcy protection earlier this year.
Transportation
Irish Aviation Authority pours in €20M in US air traffic surveillance firm
The Irish Aviation Authority has spent €20 million to buy a 6% stake in Virginia, US-based air traffic surveillance firm Aireon LLC, as part of an agreement with Italy and Denmark to invest in the new service.
Boeing union set to vote on contract tying 777X jetliner production to unionized facilities in Washington
Members of Boeing Co.'s union, the International Association of Machinists and Aerospace Workers, plan to vote on a contract related to the production of the 777X on January 3. The said contract will ensure that the jetliners will be assembled in unionized facilities in Washington.
Trucking company YRC to get $275M in equity, debt financing
Trucking firm YRC Worldwide, which has roughly $1.4 billion in debt, is nearing a financing deal comprised of $250 million in equity and $25 million in debt committed to become equity.
Hyundai Merchant shares jump the most after parent Hyundai Group announced $3.1B asset sale
Shares of Hyundai Merchant Marine jumped the most among shares of Hyundai Group companies following the conglomerate's announcement that it will sell assets to raise $3.1 billion to repay bonds due in two years.
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Singapore's national flight carrier Singapore Airlines Ltd announced on Friday its purchase of an additional 7.3% equity stake in budget carrier Tiger Airways Holdings Ltd in a deal valued at S$49 million ($38.7 million).
Software company Dealertrack Technologies will buy out online marketing and sales provider Dealer.com for $1 billion. Dealertrack will pay $620 million in cash and $373 million in stock.
German carmaker Daimler will take a 5% stake in British luxury sports carmaker Aston Martin in exchange for supplying engines and electronic components to the latter. The partnership will develop a new generation of V8 engines for sports cars.
Lucio Tan, the chairman and chief executive of Philippine Airlines Inc (PAL) is expected to finalize the majority stake sale in the flag carrier next year with San Miguel Corp (SMC).
Korean Air, South Korea's flag carrier and largest airline, has put up for sale its shares in refiner S-Oil and 13 planes to raise KRW3.5 trillion. Proceeds from the deal will be used to pare its debt and provide aid to affiliate Hanjin Shipping Co.
Philippine-based conglomerate GT Capital Holdings Inc bought more than 40% of car dealership Toyota Manila Bay Corp (TMBC) in a deal valued at PHP502.25 million.
Israel-based public transit app Moovit has closed $28 million from a funding round led by Sequoia to improve its service that gives commuters a real-time perspective of the best public transportation routes.
NWS Holdings Ltd, owned by Hong Kong tycoon Cheng Yu-tung, entered an agreement to purchase a stake in Beijing Capital International Airport Co from sovereign wealth fund GIC Pte.
Google Inc. is looking to develop an $82 million corporate aviation facility in San Jose to service its private jets. Google is partnering with private aviation firm Signature Flight Support and private jet company Blue City Holdings for the project.
