EADS and Airbus have chosen three European companies as the preferred bidders for their controlling stake in the six factories marked for divestiture as part of the Power8 restructuring program. The news comes as a severe blow to Wichita’s Spirit Aerosystems, widely considered the top candidate to take control of all six facilities. The preferred bidder list includes France’s Latécoère for the Airbus plants in Méaulte and Saint Nazaire Ville, France; GKN for the wing component and subassembly manufacturing facility in Filton, UK; and Germany’s MT Aerospace for the Nordenham, Varel and Augsburg plants in Germany.
Hoping to reach final agreements “as soon as possible,” the EADS board of directors has authorized management of EADS and Airbus to enter negotiations with the bidders on any remaining issues and final due diligence. The board said it expects substantial progress on the share purchase agreement in the first quarter of next year and to close on all the transactions by next summer, at which time the new owners would take control of the assets.
