Completion of acquisition of NSM joint venture

RNS Number : 6509E

Babcock International Group PLC

14 March 2022

 

Babcock completes acquisition of 50% of its Australian naval sustainment joint venture

14 March 2022

Further to the announcement on 15 February 2022, Babcock International Group PLC ("Babcock" or "the Group") today announced that it has completed the acquisition of the remaining 50% interest in its Australian Naval Ship Management (NSM) joint venture from UGL Infrastructure (UGL).

The acquisition will allow Babcock Australasia, one of the Group's focus countries, to further strengthen the breadth of its support to the Australian Defence Force's maritime capability and to provide additional capability for Australia's current and future maritime programmes.

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For further information:
Andrew Gollan, Director of Investor Relations	[phone]
Kate Hill, Group Director of Communications	[phone]
Tulchan Communications
Olivia Peters / Harry Cameron	[phone]

 

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