Reuters is reporting that Airbus Group has downselected PE firms Carlyle and KKR as the final two bidders for its defence electronic business, beating out strategic bidders including Rheinmetall, OHB, and Cinven. Airbus is selling the business which has annual revenues of approximately 2B Euros and EBITDA of 90M Euros, to focus on its civil and military aeronautical and space business. Sources close to deal said that the business could fetch up to 1B Euros. A final bidder should be selected by the end of the month.
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