Here’s the deal
Babcock International which is a FTSE-100 company will move forward with a £340m deal providing engineering support services for the Royal Navy Sky News learns.
The deal is expected to be announced Monday at the London Stock Exchange that Babcock is the preferred bidder for the contract with the Ministry of Defence.
The type 45 Destroyers are due to have their engines replaced after a range of technical problems. HMS Dragon and HMS Daring are included in this refit.
An insider has said that Babcock is expected to formally sign the contract with the MoD in six weeks-time and is due to report its full-year results end of May.