KKR acquires Airbus Group's Defence Electronics unit for $1.2 billion
NewsMarch 21, 2016
AMSTERDAM. KKR and Airbus Group SE have reached an agreement to buy Airbus Group SE's electronics business unit ? Defence Electronics ? for an estimated ?1.1 billion ($1.2 billion).
The transaction is expected to close early next year after it is subjected to its customary closing conditions, including regulatory approvals and employee consultation.
Airbus Group has the option to maintain a minority stake of the business. Since January 2016, the business unit has operated under Airbus Defence and Space management team as one business. The new company will focus on its military sensors, electronic warfare, avionics, and optronics.
This marks a step forward for Airbus Defence and Space after their announcement in September 2014 to reorganize their portfolio, officials say.
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