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Airbus, Safran sign new deal on space launcher venture

Reuters - UK Focus

PARIS, May 2 (Reuters) - Airbus Group (Swiss: AIR.SW - news) and Safran (Swiss: SAF.SW - news) said on Monday that they had signed an agreement for the second phase of a merger of their space launcher activities.

The long-awaited agreement will close in the second quarter, the France-based aerospace groups said in a joint statement.

The second phase calls for the integration of industrial assets and military launchers, turning their existing Airbus Safran Launchers venture into a "fully fledged operational company", the two partners said. (Reporting by Tim Hepher; Editing by James Regan)