Airbus entered into an agreement to sell its 49 percent share in Atlas Elektronik Group to the Germany-based thyssenkrupp AG, Airbus said Thursday.
thyssenkrupp AG previously held a 51 percent share in the company and with this new sale will become the sole owner of Atlas Elektronik. Atlas supplies maritime technology including sonar, command and weapons deployment systems, mine warfare systems, unmanned underwater and surface vehicles, communication systems, underwater weapons, and coastal surveillance and shipping guidance systems.
thyssenkrupp AG is a “diversified industrial group” with about 155,000 employees worldwide.
Airbus highlighted this sale is part of the company’s divestment program to let it focus on its core business. The value of the same was not disclosed.
The transaction closing is subject to customary regulatory approvals before it is completed.