Trump budget calls for Wall Street regulators to face restructuring
WASHINGTON, May 22 Two Wall Street financial regulators would face cuts or major structural changes under President Donald Trump's fiscal 2018 budget proposal
NEW YORK, April 7 Pattonair, a privately held aircraft replacement parts distributor, is preparing to sell itself in a deal that could fetch more than $500 million, people familiar with the matter said on Monday.
Exponent Private Equity, which purchased the Fort Worth, Texas-based parts supply chain manager from Umeco Plc in 2011 for 140 million pounds, has been interviewing banks to lead a sale effort, the people said.
Pattonair, founded in 1942, has a global distribution system that facilitates the warehousing shipment of parts from Rolls-Royce Holdings Plc, BAE Systems Plc, Airbus Group NV and Boeing Co to customers including airlines and governments.
The company has around $50 million in earnings before interest, tax, depreciation and amortization and could look to fetch 10 to 12 times that amount, two of the people said, asking not to be named because the matter is private. Pattonair and Exponent did not return requests for comment.
Pattonair had net sales of 291 million pounds in 2012 with more than 900 employees in 10 countries, according to its website. It has locations around the world including Derby, UK and Singapore. (Editing by Matthew Lewis)
NEW YORK, May 22 Ford Motor Co's unexpected decision to replace its chief executive officer on Monday may not be the catalyst that revives its slumping share prices.
LONDON, May 22 Alistair Cross was flying high after showing in a pilot project how blockchain - the technology first developed for the crypto-currency bitcoin - could transform the old-fashioned and secretive world of commodity trading.