StockMarketWire.com - Defence contractor Babcock International said it had sold its oil and gas aviation business to CHC for £10 million.

The business provided offshore oil and gas crew transportation services in the UK, Denmark and Australia.

It generated revenue for the year through March of £154 million and a pre-tax loss of £2 million.

Babcock said the sale was part of its targeted disposal program, which was aiming to generate at least £400 million of proceeds.


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