Airbus has completed the acquisition of assets, including the facilities at Prestwick, in a deal with Spirt AeroSystems and Boeing.
Five European sites in Ayrshire, North Carolina, France, Morocco and Northern Ireland now operate under new Airbus-affiliated names.
Wing component manufacturing for A320 and A350 in Prestwick, Scotland, continues as affiliate Prestwick Aerosystems.
Jerome Blandin, head of wing operations for Airbus’ commercial aircraft, declared the plane maker’s immediate focus is on ensuring a smooth transition for all employees, including 1,200 at Prestwick.
With the transaction now closed, both Boeing and Airbus effectively gain greater control over their supply chains. This comes at a critical time of intense production pressure and heightened scrutiny on quality and safety.
For Boeing, the reacquisition of Spirit ends years of friction with its former subsidiary. The US manufacturer aims to stabilise 737 MAX output while rebuilding trust with regulators, airlines, and the flying public.
Paramount launches Warner Bros bid
Paramount Skydance has launched a $108.4 billion hostile bid for Warner Bros Discovery as it seeks to gatecrash Netflix’s deal for the Hollywood entertainment group.
Led by David Ellison, son of the Oracle co-founder Larry Ellison, Paramount said it would approach Warner Bros shareholders directly with an offer of $30 per share in cash for the entire company.
This is considerably higher than the $83 billion offer from Netflix to buy Warner Bros’ TV and film assets that involves $23.25 in cash and about $4.50 in Netflix stock per share, valuing Warner at $27.75 a share. Netflix has also offered Warner Bros Discovery a break-up fee of $5.8 billion if its deal collapses.
Paramount’s biggest box office hits include Titanic, which was the highest-grossing film produced by the media group, as well as the Transformers franchise, the Mission: Impossible films and Top Gun: Maverick.
Its offer came after President Trump said Netflix’s deal for Warner Bros “could be a problem” after concerns were raised about the market power that the streaming giant could secure.
After the bid was disclosed shares in Paramount closed up 9% and Warner Bros rose 4.4%. Netflix shares fell back 3.4%.
Frasers swoops on another shopping centre
Frasers Group has acquired Swindon Designer Outlet, just weeks after acquiring Braehead near Glasgow.
Swindon Designer Outlet, which opened in 1997, has total floor space of 250,000 sq. ft and attracts over three million visitors annually.
Frasers also owns the Overgate Centre in Dundee and the Frenchgate Centre in Doncaster.
Michael Murray, CEO of Frasers Group, said: “Physical retail is central to our Elevation Strategy and investing in Swindon – one of the UK’s top five outlets by footfall – strengthens our position as both retailer and landlord. This acquisition reinforces our property strategy and unlocks new opportunities for our brands and our partners.”
Frasers Group was advised by CBRE on this acquisition.
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