Airbus Group has inked a share buyback agreement to sell all of its stake in the Finnish company Patria.
Marwan Lahoud, chief strategy and marketing officer of Airbus Group, said Tuesday the sale of Airbus’ stake in Patria concludes the company’s portfolio review that began in early 2014 to set up its defense and security business.
The transaction is set to complete by the end of the year.
Helsinki-based Patria will take control of Airbus’ 26.8 percent share in the company under an agreement with the state.
The State of Finland is a major shareholder of Patria, represented in the transaction by the Ownership Steering Department of the Prime Minister’s Office.
