January 12, 2017 / 11:57 AM / 3 years ago

Thyssenkrupp buys rest of Atlas Elektronik from Airbus

The logo of German steel-to-elevators group ThyssenKrupp AG is pictured during the company's annual news conference in Essen, Germany, November 24, 2016. REUTERS/Wolfgang Rattay

FRANKFURT (Reuters) - Thyssenkrupp (TKAG.DE) has agreed to buy the 49 percent of maritime technology company Atlas Elektronik it does not already own from Airbus (AIR.PA) for an undisclosed price, Thyssenkrupp and Airbus said on Thursday.

“The full takeover will allow even closer cooperation between Atlas Elektronik and Thyssenkrupp Marine Systems, for example in product development,” the German industrial group said in a statement.

Airbus said it was selling the stake as part of its defense and space divestment program to focus on its core business.

Reporting by Georgina Prodhan; Editing by Christoph Steitz

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