Airbus scraps plan to invest in Evidian
BLAGNAC, FRANCE — Aircraft manufacturer Airbus has confirmed it no longer intends to invest in Evidian, a cybersecurity company owned by IT consulting firm Atos.
In February, Airbus said it was keen to invest in Evidian, as the former wanted to improve digitalization across its business.
“After careful consideration, Airbus SE (stock exchange symbol: AIR) has come to the conclusion that the potential acquisition of a minority stake of 29.9% in Evidian does not meet the Company’s objectives in the current context and under the current structure,” Airbus said in a statement.
According to The Register, the decision follows pressure from an activist investor. It added Airbus chief executive and major investor Guillaume Faury pushed for the termination of negotiations, saying, “The transaction appears to be a bailout of Atos, a company that is burdened with unsustainable levels of debt and other liabilities.”
Atos reportedly values Evidian at about €7 billion (US$7.6 billion), including a €3 billion (US$3.2 billion) debt.
“Airbus and Atos continue to discuss other potential options and pursue the work on the long term strategic and technological partnership between Airbus and Evidian which has the potential to create significant value for both companies,” added Airbus.
Despite the reassurance from Airbus, shares in Atos closed down 17 per cent to €10.71 (US$11.68).
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