The Diplomat in Spain

Photo: CESA

The Diplomat. 05/05/2018

The Council of Ministers authorized last Friday foreign investment by the European company Airbus SE for 40% of the share capital of the Spanish Company of Aeronautical Systems, S.A. (CESA) can be used for activities related to national defense.

The foreign investment operation consists of the acquisition for a price of 30 million euros, by Airbus SE – through its subsidiary Airbus DS – of 40% of the shares of CESA currently held by Goodrich, in such a way that Airbus SE would control, through Airbus DS, 100% of the share capital of CESA, a Spanish company with more than 25 years of experience dedicated to the manufacture and design of components for military aircraft and helicopters.

Airbus Group SE is the most important corporation in Europe in the aviation sector and the most important in the world in the aerospace industry. Its official legal headquarters is located in Leiden, in the Netherlands, and its operational headquarters in Toulouse (France).

[hr style=”single”]

The operation, proposed by Cospedal, will allow the European company to take over 100% of CESA

[hr style=”single”]

According to the law of April 23, 1999 on foreign investments, the Council of Ministers must authorize foreign investments in Spain in activities directly related to national defense, such as the production or trade of arms, ammunition, explosives and war material.

The authorization of the Government came at the proposal of the Minister of Defense, María Dolores de Cospedal, and following the report of the Foreign Investment Board, which gave its favorable vote to the operation on March 13.