GKN agrees sale of helicopter company stake

British engineering group GKN said today it had rubber-stamped a deal to sell its stake in helicopter maker AgustaWestland for £1.06bn (€1.6bn).

The Redditch-based company said it had signed definitive agreements to dispose of its 50% interest in the Yeovil-based aerospace business to Italian engineer Finmeccanica, which holds the other 50%.