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OZ Management Raises Passive Stake in B/E Aerospace Inc (BEAV)

OZ Management, managed by Daniel S. Och, has upped its stake in B/E Aerospace Inc (NASDAQ:BEAV). In a newly amended filing with the U.S. Securities and Exchange Commission, the fund revealed owning 6.84 million shares of B/E Aerospace Inc (NASDAQ:BEAV), up from 5.65 million shares held previously. The position amasses 6.50% of common stock and is passive by nature.

Och-Ziff Capital Management

B/E Aerospace Inc (NASDAQ:BEAV) is engaged in manufacturing of aircraft cabin interior products and is a provider of aerospace fasteners, consumables and logistics services. The company has a market cap of $9.7 billion. Shares of the company traded down by 0.24% to $91.96 on Friday.

On June 10, the company’s board of directors commenced a process to separate its businesses into two independent, publicly traded companies. The one segment, Manufacturing Co., will focus on aircraft cabin interior equipment – design, development, manufacturing, certification and direct sales on a global basis. The second segment, Services Co., will be focused on distribution, logistics and technical services for the aerospace and energy services markets. Currently, the company plans to separate the businesses by way of a tax-free distribution to its shareholders, which would result in shareholders of the company holding shares in two independent and publicly traded companies, according to a statement.

In addition, B/E Aerospace Inc (NASDAQ:BEAV) recently appointed David J. Anderson, former senior vice president and CFO of Honeywell International Inc. (NYSE:HON), to its board of directors.

At the beginning of this month, B/E Aerospace Inc (NASDAQ:BEAV) announced that it agreed to acquire EMTEQ, Inc., which provides aircraft interior and exterior lighting systems, as well as aircraft cabin management and power systems. Also, the company signed a definitive agreement to acquire F+E Fischer + Entwicklungen GmbH & Co. KG, which is manufacturer of seating products for civilian helicopters.

Aside from OZ Management, Relational Investors, managed by Ralph V. Whitworth, and Stephen Mandel’s Lone Pine Capital revealed ownership of shares of B/E Aerospace Inc (NASDAQ:BEAV), owning 3.65 million shares and 3.40 million shares, respectively.

Disclosure: none

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