BRIEF-Babcock to acquire Avincis for 920 mln stg

LONDON, March 27 Thu Mar 27, 2014 3:33am EDT

LONDON, March 27 (Reuters) -

* Babcock Intnl group - acquisition

* Babcock International Group Plc - proposed acquisition of avincis group and fully underwritten 1,100 million pounds rights issue

* Babcock International Group Plc - terms of acquisition, babcock group will also assume Avincis's net debt of 705 million pounds.

* Babcock International Group Plc - acquisition will be funded through a fully underwritten rights issue of 5 new ordinary shares at 790 pence each for every 13 existing ordinary shares

* Babcock International Group Plc - deal for 920 million pounds (eur 1,100 million) from world helicopters s.à r.l.

* Babcock international group plc - acquires the entire issued share capital of avincis for £920 million

* Babcock international group plc - issue raising approximately £1,100 million, before expenses ( "rights issue")

* Babcock international group plc - combination of babcock and avincis will create a medium term revenue synergy opportunity

* Babcock international group plc - will also assume Avincis's net debt of 705 million pounds

* Babcock international group plc - j.p. Morgan cazenove is acting as sole financial adviser in connection with acquisition and rights issue and sole sponsor in connection with rights issue Source text for Eikon: Further company coverage: [ ] (Reporting by Kate Holton)

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