(MENAFN) Dubai Aerospace Enterprise (DAE) announced that it stopped negotiations on a merger with British BBA Aviation, The National reported.
The potential merger was announced last month by the two companies. BBA was looking to acquire DEA"s US-based StandardAero.
Under the agreement, DEA was to hold a share in the combined repair and maintenance business worth USD3.56 billion.
In 2007, DEA acquired StandardAero and Landmark Aviation for USD1.9 billion. BBA had recently bought US airport operator, Jet Systems, for USD38 million.
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