UPDATE 1-Babcock launches $1.8 bln rights issue to buy helicopter firm Avincis
March 27, 2014 at 04:59 AM EDT
LONDON, March 27 (Reuters) - Engineering contractor Babcock said on Thursday it had agreed to acquire helicopter transport services firm Avincis for 920 million pounds ($1.5 billion) plus debt, funding the long-expected deal through a 1.1 billion-pound rights issue.