Airbus buys German lender to grow into its company bank

Paris: Airbus Group said on Friday it would acquire small German lender Salzburg Munchen Bank AG to grow it into its company bank and benefit from additional financing options.

Once the deal is closed, the Munich-based lender will be renamed Airbus Group Bank and will provide financing solutions to support the various businesses of the aerospace and defence group, Airbus said in a statement.

Airbus said it aimed to close the deal, subject to regulatory approvals, “as early as possible in 2014”.