Airbus signs agreement for sale of satellite communication unit: Reuters

Airbus Group said on Monday it had signed a share purchase agreement with French private equity firm Apax Partners for the takeover of all of its commercial satellite communication business.

Airbus said the divestment, which excludes its government satellite communication business, was part of a strategy announced in September 2014 in which the commercial Satcom business did not fit into its strategic goals.

The final closing of the transaction, subject to regulatory approvals, was expected to take place in the next months, it said.