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  • Friday, April 26, 2024

Harald Wilhelm: Airbus Aims for Salzburg Munchen Bank Buy to Form Company Bank

Harald-WilhelmAirbus Group has moved to expand its financing options by agreeing to buy Salzburg Munchen Bank AG from Raiffeisenverband Salzburg.

The Munich-based bank will be renamed Airbus Group Bank once the transaction is completed and the new Airbus subsidiary will provide financial services to the aeronautics and defense company, Airbus said Friday.

“Acquiring Salzburg München Bank provides us with a good platform to launch our company bank project, ” said Harald Wilhelm, Airbus Group chief financial officer.

Salzburg München Bank serves small and medium businesses and private customers in Germany.

The acquisition is subject to ownership and competition approvals from German regulators and the deal is scheduled to close in 2014.

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