BAE Systems to sell part of aerospace unit

London: BAE Systems Plc, Europe's largest defence company, is seeking to sell parts of its commercial aerospace business in North America for about $2 billion (Dh7.3 billion), according to two people with knowledge of the matter.

Information has been sent to potential buyers and first-round bids for the assets are due within the month, said the people who declined to be identified as the details have not been made public yet.

The units for sale include those that make hybrid propulsion systems for buses and trucks and another that makes aircraft-engine controls sold to General Electric Co, the people said.

"We do not comment on market rumour or press speculation regarding mergers, acquisitions or divestitures," BAE spokeswoman Leonie Foster said by email.

BAE has expanded in countries such as India, South Africa and Australia, where it purchased Tenix Defence in 2008. Recent acquisitions in the US, the world's biggest defence market, include United Defence Industries Inc.