Babcock Acquiring Remaining 50% of Australian Joint Venture

Babcock International Group PLC announced February 16th that it has entered into a Sales and Purchase Agreement to acquire the remaining 50% interest in its Australian Naval Ship Management (NSM) joint venture from its long-term joint venture partner in Australia, for a consideration of AUD60 million (approximately £32 million). The acquisition is subject to customary approvals. The NSM joint venture…

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Babcock signs tripartite agreement to support enhancement of Ukrainian naval capabilities

Babcock International Group (Babcock) has signed a tripartite Memorandum of Implementation (MoI) in Odesa with the Ministry of Defence of Ukraine and the UK Government. Building on the agreement signed in October 2020, the two nations will now push forward a major program of Ukrainian naval projects, with Babcock as their designated prime industrial partner. Reflecting Babcock’s extensive naval experience…

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