Dubai Aerospace to buy Standard Aero

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Mon Apr 2, 2007 8:47am EDT

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NEW YORK, April 2 (Reuters) - Dubai Aerospace will buy Standard Aero Holdings Inc. and Piedmont/Hawthorne Holdings Inc. from private equity firm Carlyle Group [CYL.UL] for $1.8 billion, Standard Aero said on Monday in a regulatory filing.

It said $1.034 billion of the total purchase price will be allocated to the purchase of Standard Aero.

The deal is subject to regulatory and governmental approval, including approval from the Committee on Foreign Investment in the U.S., Standard Aero said in its filing. The parties expect to make a voluntary formal filing with the committee shortly.

Under the deal, which is expected to close in the third quarter, Dubai Aerospace plans to sell off the fixed-base operations of Piedmont/Hawthorne's Landmark Aviation business to a third party which has not yet been identified, according to the filing.

((Reporting by Christian Plumb and Lilla Zuill; editing by John Wallace; Reuters Messaging:christian.plumb.reuters.com@reuters.net +1 646 223-6134)) Keywords: STANDARDAERO DUBAIAEROSPACE/

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