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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Allianz AG | TG:ALV | Tradegate | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30 | 0.12% | 259.10 | 259.10 | 259.20 | 260.50 | 258.50 | 258.70 | 9,779 | 12:15:01 |
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Premium
22 August 2003
GKN plc
GKN sells Alvis stake for £73 million
GKN has agreed the sale of its entire 29% stake in Alvis plc to BAE Systems plc
for £73 million in cash.
Alvis is one of the world's leading companies in armoured vehicles and other
specialist vehicles and BAE Systems a world leading defence prime contractor.
GKN acquired its stake in Alvis in 1998, as a result of the merger between GKN
Defence and Alvis.
Kevin Smith, Chief Executive of GKN, said "We believe strongly that this
transaction will be a positive development for Alvis and its customers, and BAE
Systems, and represents good value for GKN shareholders."
Proceeds from the sale, which is subject to clearance by the Cartel Office in
Germany, will be applied against short-term debt.
Enquiries:
GKN Corporate Communications +44 (0)20 7930 2424
END
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