Airbus pushes ahead with the restructuring of its defense division. For 1.1 billion euros, the Group will sell its defense electronics business to the US investment firm KKR, the European company said.
According to Airbus the sale of the division in the first quarter 2017 will be placed in the bag and is still subject to some reservations as to approval by the competent authorities. The aircraft manufacturer is considering to retain a minority interest in the area.The defense electronics business employs declared to the world about 4,000 employees and is headquartered in Ulm. There, among other electronic protection systems for aircraft, vehicles and radars are manufactured. The annual turnover is around one billion euros.
Given the lower defense spending in Europe Airbus wants to host the arms deal more on the sale of aircraft, missiles and satellites. In return, the company separates from border areas. The aim is to strike assets with a total annual turnover of around two billion euros.
The Federal Government has previously made clear that it is important the impact of a sale for obtaining security technology and jobs. Only in February Airbus had decided the deal with border security technology not for sale with, but hold on to it.
According to insiders, the German defense group Rheinmetall will together with the US financial investor Blackstone and financial investors Cinven and Carlyle to the bidding process have been involved.
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