Airbus defense asset sale 'progressing well': strategy chief

Thu Jan 7, 2016 4:52am EST
 
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PARIS (Reuters) - Airbus Group (AIR.PA: Quote) is making good progress in the sale of its defense electronics activities, a top executive said on Thursday.

In December, Airbus Group said it was on the verge of selecting a final candidate and expected a decision by the end of the month. Sources familiar with the talks estimate the value of the assets at around 1 billion euros.

"It is progressing well," Chief Strategy and Marketing Officer Marwan Lahoud, who is in charge of the negotiations, told Reuters when asked if a deal had been reached.

People familiar with the matter said Airbus Group (AIR.PA: Quote) had shortlisted Carlyle (CG.O: Quote) and KKR (KKR.N: Quote) after two U.S. buyout groups put in significantly higher offers.

None of the players involved agreed to comment.

(Reporting by Tim Hepher; editing by Geert De Clercq)

 
Airbus's company logo is pictured at the Airbus headquarters in Toulouse, December 4, 2014.  REUTERS/ Regis Duvignau