Airbus Group (formerly EADS) has continued a strategy of divesting non-core assets with the sale of a majority stake in its France-based Test & Services (T&S) business to ACE Management and the Institut Regional de Developpement Industriel de Midi-Pyrenees (IRDI).
The sale of the 66.5% share in T&S - a producer of test equipment for military and civilian applications - was announced on 10 July, and follows a preliminary agreement concerning the sale that was reached in June. Terms were not disclosed.
ACE Management is a private equity firm that specialises in the aerospace and defence sectors. IRDI, meanwhile, is a state-backed private equity operation.