SINGAPORE (June 29): ST Engineering is divesting its 25% stake in its indirect associates, Airbus Helicopters South East Asia (AHSA) to the joint venture partner, Airbus Helicopters SAS of France.

AHSA was set up between ST Engineering and Airbus Helicopters in 1977 to provide helicopter sales, repair, overhaul, logistics and product support services.

ST Engineering says the divestment is a result of the group's ongoing business review to streamline capabilities and optimise resources within its aerospace sector and is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of the group for the current financial year.

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