The Airbus Group has announced it has entered into a share purchase agreement with Raiffeisenverband Salzburg to acquire Salzburg München Bank AAG.
The company says the acquisition of the Munich-based bank will allow it to provide additional financing options for the aeronautics and defence company, and that, after closing, “it will be renamed Airbus Group Bank and gradually be developed to provide finance solutions to support the Group’s businesses.”
“Acquiring Salzburg München Bank provides us with a good platform to launch our company bank project,” said Airbus Group CFO Harald Wilhelm in a statement. “In the coming years the whole Group can benefit through increased financing flexibility.”
The acquisition is subject to regulatory approval, and Airbus hopes to complete the transaction “as early as possible.”