Airbus nears final selection on sale of defence electronics unit – report

December 16 (SeeNews) – European aircraft maker Airbus Group (EPA:AIR) has shortlisted six offers and hopes to pick the final bidder for its defence electronics business within hours or in the coming days, Reuters said citing strategy chief Marwan Lahoud.

The manager expects to finalise a deal by the end of the year, the agency reported.

French daily Les Echos said on Wednesday France’s Thales and German Rheinmetall were among the suitors. With the sale of the unit that generates annual earnings before interest, tax, depreciation and amortisation (EBITDA) of some EUR 100 million (USD 109.2m) Airbus is seeking to raise EUR 1 billion.

The sale is in line with Airbus’s strategy to offload certain assets worth a combined EUR 2 billion in revenue, and focus on its aeronautics and space business amid low defence spending in Europe.

(EUR 1 = USD 1.092)

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