Global law firm White & Case LLP is advising Airbus Group, a European multinational aerospace and defence company, on the sale of its 26.8 percent minority stake in Patria Oyj, a Finnish defence company, to the company.
Following the transaction, Patria will cancel a part of the shares and, for the time being, will be under full control of the State of Finland.
"Airbus Group served for many years as a minority industrial partner for Patria," said Helsinki-based White & Case partner Timo Airisto, who is leading the team advising on the transaction. "We're pleased to be advising Airbus Group on the sale of its minority stake in the company, a deal which supports the implementation of the group's more focused business plan."
The Airbus Group's sale comes as part of the implementation of a portfolio review seeking to rationalise its defence and security businesses. Among Patria's products and services is the production of armoured vehicles and ammunition products, support services for aircraft and helicopters, maintenance of army material for the Finnish Defence Forces and the development and integration of systems for command and control, as well as life cycle support services.
The White & Case team was led by Helsinki partner Timo Airisto. He was assisted by associates Essi Lavikkala, Alli Soralahti and Aatos Solhagen in Helsinki and associate Marika Harjula in Brussels.
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