Airbus Group To Have In-House Bank

  • Our Bureau
  • 01:43 PM, February 14, 2014
  • 1833
The Airbus Group has entered into a Share Purchase Agreement with Raiffeisenverband Salzburg to acquire Salzburg München Bank AG, in order to provide additional financing options for the aeronautics and defence company. Salzburg München Bank, owned 100% by Raiffeisenverband Salzburg, is a small fully-licensed bank based in Munich serving small and medium enterprises (SMEs) and private clients. After closing, it will be renamed Airbus Group Bank and gradually be developed to provide finance solutions to support the Group's businesses. The transaction will not have any immediate effects on Salzburg München Banks existing clients or business. “Acquiring Salzburg München Bank provides us with a good platform to launch our company bank project,” said Airbus Group Chief Financial Officer Harald Wilhelm. “In the coming years the whole Group can benefit through increased financing flexibility.” The acquisition is subject to obtaining regulatory approvals, namely the Ownership Control Procedure ("Inhaberkontrollverordnung") with the German regulator (BaFin) and also from the Gerrman competition authority (BKartA). Airbus Group aims to close the deal as early as possible in 2014, subject to receiving all necessary regulatory approvals.
Also Read

Airbus Group To Procure 20 UH-72A Lakota Helis

January 20, 2014 @ 05:00 PM

Will ‘Airbus Helicopters’ Fare Better than ‘Eurocopter’ in India?

January 10, 2014 @ 10:48 AM

Eurocopter Officially Named Airbus Helicopters

January 9, 2014 @ 08:39 AM

EADS Rebranded As AIRBUS Group

January 2, 2014 @ 12:15 PM

EADS Announces Restructuring Plans For Airbus Defence and Space

December 10, 2013 @ 12:05 PM

Airbus Announces $54 Million In Helicopter Contracts From FIDAE 2014

April 1, 2014 @ 11:24 AM