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Article: EADS takes full control of Astrium, Paradigm
- Article from:
- Interavia
- Article date:
- January 1, 2003
- Author:
CopyrightCopyright Aerospace Media Publishing Jan/Feb 2003. Provided by ProQuest LLC. (Hide copyright information)
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EADS is to acquire BAE Systems' 25 percent interest (27.5 percent economic share) in Astrium, subject to regulatory clearances. In a parallel move, full control of Paradigm Secure Communications Ltd, formerly held by BAE Systems and EADS, has been transferred to EADS. Prior to completion, EADS and BAE Systems will each make a capital contribution to Astrium of euro84 million to facilitate restructuring. EADS, which already owns 75 percent of Astrium, will acquire BAE Systems' Astrium shares for euro84 million at completion. Taking into account the cash contribution, BAE Systems' interest will effectively be transferred to EADS for no net cash consideration. These terms reflect the current ...