|Bid||95.00 x 0|
|Ask||100.00 x 0|
|Day's Range||86.70 - 98.24|
|52 Week Range||1.57 - 711.00|
|Beta (5Y Monthly)||1.66|
|PE Ratio (TTM)||N/A|
|Earnings Date||Mar 11, 2021|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Apr 23, 2020|
|1y Target Est||974.81|
Increased travel restrictions aimed at preventing more contagious strains of coronavirus are delaying the recovery in global aviation.
The company is set to burn through more cash than expected this year as Covid hits the travel sector.
(Bloomberg) -- MTU Aero Engines AG is exploring a bid for ITP Aero, the Spanish aircraft parts supplier being sold by Rolls-Royce Holdings Plc, people familiar with the matter said.The German engine manufacturer, which is working with advisers, would face stiff competition from several private equity firms, the people said. Rolls-Royce is launching the sale this week, according to the people, who asked not to be identified because discussions are private.MTU spokesman Eckhard Zanger said that while the company’s long-term strategy is generally focused on organic growth, “we observed the situation at ITP and took notice that Rolls-Royce has announced a disinvestment.” He declined to comment specifically on a potential bid.A spokesman for Rolls-Royce declined to comment.The London-based manufacturer is seeking to divest the Spanish unit as part of a plan to raise more than 2 billion pounds ($2.7 billion) from asset disposals as the pandemic hits core revenue from wide-body engine sales and maintenance. MTU already partners with ITP on projects including the narrowbody A320neo engine, the A400M military transport aircraft and the Eurofighter jet.Carlyle Group, CVC Capital Partners, KKR & Co. and a consortium of Towerbrook Capital Partners and Onex Corp. are among buyout firms interested in ITP Aero, Spanish newspaper El Economista reported earlier, citing unidentified people in the financial industry. The business could fetch about 1.5 billion euros ($1.8 billion), the publication reported.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.