Airbus Defence and Space, a global leader in aeronautics, space and related services, has entered into an agreement to sell its 49 per cent share in Atlas Elektronik Group to thyssenkrupp based in Essen, Germany.

With this acquisition, thyssenkrupp, which to date has held a 51 per cent share in the company, will become the sole owner of Atlas Elektronik.

The sale of its shares in Atlas Elektronik, a supplier of cutting-edge maritime technology, is part of Airbus Defence and Space’s divestment programme which will allow it to focus on its core business.

Closing of the transaction is subject to customary regulatory approvals. - TradeArabia News Service