Airbus has published an announcement saying that "the holding company owned equally by Airbus, Safran and Tikehau Capital has finalised today the acquisition of Aubert & Duval from Eramet".
Aubert & Duval is, according to Airbus, "a strategic supplier of critical parts and materials" to the aerospace industry and takes in revenues "in the region of €550 million" a year.
Airbus said Bruno Durand has been appointed chief executive of Aubert & Duval by the holding company’s board of directors.
"The acquisition of Aubert & Duval will ensure the national and European sovereignty of our strategic programs developing disruptive civil and military engines, and secure our critical parts and materials supply chain," said Safran chief executive Olivier Andriès.
“Completion of this acquisition represents a crucial step towards the creation of a leading European player in critical parts and materials, equipped to compete globally and to support the aerospace and defence industry, thereby reducing geopolitical risks of supply", said Guillaume Faury, Andriès' counterpart at Airbus.
"This operation marks the latest in a series of initiatives in recent years to support and strengthen France’s aerospace sector, notably through the Ace Aéro Partenaires investment fund set up in 2020 and handled by alternative asset management firm Tikehau Capital with the backing of the French government, which retains a golden share in Aubert & Duval company in order to protect its strategic interests," Airbus said in its April 28 announcement of the deal.