European defense and aerospace company, Airbus Group has this week announced that it has finalized the sale of its Defense Electronics subsidiary.
Defense Electronics produced high-tech systems and sensors for use in a number of military applications. Based in Germany, but with offices around the world, the subsidiary had a workforce of more than 4000 people. The subsidiary itself is slated to be sold to US-based private equity firm, KKR for a sum of approximately $1.1bn. Airbus…
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