Investing.com -- Airbus SE (OTC:EADSY), the European multinational aerospace corporation, has engaged Goldman Sachs Group Inc (NYSE:GS). for guidance on creating a new European space and satellite company. The goal is to become a more formidable competitor to Elon Musk’s SpaceX, according to Bloomberg, citing sources familiar with the matter.
Discussions about this venture, which involves French aerospace company Thales (EPA:TCFP) and Italy’s Leonardo SpA, are still in the exploratory phase. The complete range of services the business would offer has not yet been determined. The sources requested anonymity due to the confidential nature of the discussions.
Leonardo SpA, based in Rome, has enlisted the Bank of America (NYSE:BAC) Inc. for this plan, also known as Project Bromo. Thales, based in Paris, is also in consultation with advisors. Both companies already collaborate on satellite and space telecommunications products.
The decision to hire top M&A advisors is a significant move towards formalizing long-discussed plans for this venture. The firms are considering factors such as cost, complexity, regulatory barriers, antitrust implications, and the potential for incorporating various civil and military contracts into the transaction, according to the sources.
The enlistment of leading M&A advisory firms underscores the companies’ efforts to overcome political and financial challenges in order to establish a European champion in the space industry.
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