Private equity firm Cerberus Capital Management is considering putting DynCorp International up for sale in a deal that could be worth at least $1.3 billion, Reuters reported Thursday.
Sources told Reuters that Cerberus has tapped two investment banks to help seek offers from potential acquirers of the defense contractor.
The report said the potential sale may bode well for Cerberus after the Defense Department saw its budget rise to approximately $700 billion in 2017.
News of the possible divestiture came after President Donald Trump named Stephen Feinberg, Cerberus co-founder and CEO, chairman of the intelligence advisory board.
Cerberus acquired DynCorp in 2010 for over $1 billion, according to the report.