KKR to buy Airbus defense electronics unit for $1.2 billion

March 18, 2016 7:29 PM

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KKR to buy Airbus defense electronics unit for $1.2 billion

PARIS Private equity firm KKR (KKR.N) has agreed to buy Airbus Group's (AIR.PA) defense electronics business for 1.1 billion euros ($1.2 billion), the European aerospace group said on Friday.

The transaction is expected to close in the first quarter of next year, Airbus said in a statement, adding it may keep a minority stake.

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