Amid the recent political debate by Barack Obama and Mitt Romney on keeping China’s currency at low levels, lies a sale of a bankrupt American aircraft maker, Hawker Beechcraft.
Mahindra & Mahindra Limited, which had earlier bid for the company and lost it to a Chinese part government owned firm Superior Aviation Beijing Co., is said to bid again for it, states ET. Superior Aviation was supposed to buy it for $1.79 Bn.
The news rekindled as the deal between the American and Chinese firm did not go through.
Hawker’s CEO Steve Miller hinted at ‘global politics’ involved in the deal failure, citing calls from the Democrats and Republicans for toughness on China’s currency policies.
M&M is looking to grow in the aerospace business and had earlier bought majority stakes in component maker Aerostaff Australia and turboprop aircraft manufacturer Gippsland Aeronautics in 2009.
19/10/12 Paritosh Gajjar/Deal Curry
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Mahindra & Mahindra Limited, which had earlier bid for the company and lost it to a Chinese part government owned firm Superior Aviation Beijing Co., is said to bid again for it, states ET. Superior Aviation was supposed to buy it for $1.79 Bn.
The news rekindled as the deal between the American and Chinese firm did not go through.
Hawker’s CEO Steve Miller hinted at ‘global politics’ involved in the deal failure, citing calls from the Democrats and Republicans for toughness on China’s currency policies.
M&M is looking to grow in the aerospace business and had earlier bought majority stakes in component maker Aerostaff Australia and turboprop aircraft manufacturer Gippsland Aeronautics in 2009.
19/10/12 Paritosh Gajjar/Deal Curry
