January 7, 2016 / 9:54 AM / in 2 years

Airbus defense asset sale 'progressing well': strategy chief

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

PARIS (Reuters) - Airbus Group (AIR.PA) 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) had shortlisted Carlyle (CG.O) and KKR (KKR.N) 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

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