DUBAI (Reuters) - Dubai Aerospace Enterprise (DAE), owner of U.S.-based engine repair and maintenance business StandardAero, said on Sunday it is no longer in discussions with British aircraft services firm BBA Aviation (BBA.L) to merge parts of its business.
The two firms had announced in late August that they had started talks to merge some of their assets, after media reports said that BBA was looking at a 2.7 billion pound ($4.2 billion) tie-up with Arizona-based StandardAero.
“Dubai Aerospace Enterprise announced today it is no longer in discussions with BBA Aviation about a potential combination of certain parts of its business,” DAE said in an emailed statement.
No further details were given in the statement.
Reporting by Praveen Menon; editing by Mirna Sleiman