RAYTHEON AIRCRAFT FETCHES $3.3 BILLION
Onex Corp. announced this morning that it is joining with GS Capital Partners, an affiliate of Goldman Sachs, to acquire Wichita-based Raytheon Aircraft Company for $3.3 billion. The deal will be completed by Hawker Beechcraft Corp., a newly formed joint venture between Onex and GS Capital Partners. The equity investment of approximately$1.06 billion will be split equally between Onex and GS Capital Partners, with Onex's share of the investment to be made by Onex Partners, a large-cap private equity fund. Onex's investment is expected to be approximately $212 million. The deal is expected to be completed by mid-2007, pending regulatory approvals. "We believe strongly in the future growth of the business aviation sector, as new demand in Europe and Asia adds to strength in North America," said Onex Managing Director Nigel Wright. More...

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