Airbus not interested in B/E Aerospace -sources

LONDON/PARIS, May 6 (Reuters) - European planemaker Airbus is not interested in the potential sale of all or part of seating supplier and parts distributor B/E Aerospace, two people familiar with the matter said.

Airbus, the world's second largest planemaker and a subsidiary of Airbus Group, together with U.S. rival Boeing are among a list of potential suitors circulated by analysts for parts of the business which announced on Sunday it was exploring a sale, merger or spin-off, pushing its shares up 9 percent.

Both planemakers have activities in the distribution of parts as they expand down the supply chain to improve returns.

Airbus acquired Danish aircraft parts distributor Satair in 2011, but the sources said it would most likely not place an offer for B/E Aerospace's Consumables activity which includes the world's largest distributor of fasteners or bolts.

"Airbus is not interested in B/E Aerospace," said one of the sources.

A spokesman for Airbus Group declined to comment, saying it never commented on merger speculation as a matter of policy.

Airbus paid 10.1 times gross earnings for Satair, assuming no debt, which is below the multiple bankers say it might take to buy B/E Aerospace - a sign of strong valuations as Asia leads aerospace out of recession more quickly than many sectors.

B/E Aerospace trades at 12.5 times earnings before interest, tax, depreciation and amortization, according to Thomson Reuters data. Its shares rose a further 1.4 percent early on Tuesday.

(Reporting by Sophie Sassard and Tim Hepher; Editing by Elaine Hardcastle)

Advertisement