Amsterdam, 28 February 2017 – Airbus (stock exchange symbol: AIR) has finalised the sale of itsGermany-based Defence Electronics business to KKR, a leading global investment firm, followingthe receipt of regulatory and other approvals, including from the German government.
The France-based portion of the business will be transferred to KKR once the carve-out of theFrench entity in Elancourt, near Paris, is completed. The closing of this part of the transaction issubject to regulatory approval from the French government
KKR acquires the business for an enterprise value of approximately € 1.1 billion. Airbus has agreedto maintain a 25.1% minority stake for a limited number of years post-closing until the fullseparation of the sites. This measure will facilitate a smooth transition for employees and businessstakeholders.
The Defence Electronics activity, which will be renamed Hensoldt, is a global provider of missioncriticalsensors, integrated systems and services for premium defence and security applications.Headquartered in Ottobrunn, Germany, it has around 4,000 employees worldwide, with annualrevenues of around € 1 billion.
“We are pleased to finalise this transaction, which represents another major step forward in thestrategic rationalisation of Airbus’ defence activities,” said Dirk Hoke, Chief Executive Officer ofAirbus Defence and Space. “After streamlining our portfolio we are now well positioned with a clearfocus on smarter products, more service-based offerings and accelerating digital innovation.”
Johannes Huth, Member and Head of KKR Europe, Middle East and Africa, said: “KKR will supportthe growth and development of Hensoldt into a leading European defence company with itsfinancial resources and its extensive experience building successful industrial companies, such asMTU Aero Engines, Demag Cranes and Kion.”
About AirbusAirbus is a global leader in aeronautics, space and related services. In 2016, it generated revenues of € 67 billionand employed a workforce of around 134,000. Airbus offers the most comprehensive range of passenger airlinersfrom 100 to more than 600 seats. Airbus is also a European leader providing tanker, combat, transport andmission aircraft, as well as Europe’s number one space enterprise and the world’s second largest spacebusiness. In helicopters, Airbus provides the most efficient civil and military rotorcraft solutions worldwide.
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