State owner to seek new industrial partner for Patria

Today, Patria Oyj has signed an agreement on the acquisition of Patria’s shares (26.8 %) owned by Airbus Group. Following the transaction, Patria will cancel a part of the shares and, for the time being, the company will be under full State control. A certain number of the shares will be placed in Governia, a state-owned company with special assignment.

The initiative for the transaction was made by Airbus Group as part of its portfolio review.

“The State recognizes the input of Airbus over the years of business cooperation. Industrial partnership has proved an effective way for Patria to engage in international business. Therefore, the State considers it important to find a new industrial partner for Patria as minority shareholder to enhance the further development of the company’s business. The current solution is only temporary in nature and the State owner will initiate measures with Patria to seek a new minority partner early next year,” says Director-General Eero Heliövaara from Government Ownership Steering.

“With the sale of our stake in Patria, we are implementing the conclusions drawn from our portfolio review earlier this year for the future set-up of our defence and security business.
I thank the Finnish government for its cooperation and support in completing this transaction so smoothly”, said Marwan Lahoud, Chief Strategy and Marketing Officer of Airbus Group. “I also wish to thank the management and employees of Patria for the good partnership we have had for many years. For sure, we will continue our good cooperation on several joint projects.”

Inquiries

Director-General Eero Heliövaara, Government Ownership Steering, tel. +358 0295 160 150, [email protected]

Chief Strategy Officer Jukka Holkeri, Patria, +358 40 869 2008, [email protected]