BAE Systems announced today an agreement to sell its commercial aircraft lease portfolio and asset-management business to investment affiliates of New York-based Fortress Investment Group for $187 million in cash. Expected to close in the third quarter, the sale remains subject to regulatory approval and “other conditions.”
BAE Systems Information Technology
BAE Systems has all but abandoned Europe. The British defense conglomerate is putting its money into North America, where the budgets are large and the risks are low. But the U.S. government has imposed major bureaucratic controls on all foreign entities that seek to share defense technology. So can BAE ever become a truly integrated transatlantic company?