ST Engineering’s aerospace arm completes additional investment in EFW

Singapore Technologies Engineering’s (ST Engineering) aerospace arm Singapore Technologies Aerospace Ltd (ST Aerospace) has completed its investment of the additional 20% equity interest in Elbe Flugzeugwerke (EFW). The investment was completed following the receipt of regulatory approvals and fulfilment of customary conditions precedent. Following this completion, EFW becomes a subsidiary of ST Aerospace, with the latter owning 55% of the shareholding and Airbus Defence and Space GmbH (Airbus) holding the remaining 45%. The additional investment saw the launch of the collaboration in June 2015, between Airbus, EFW and ST Aerospace for the A320/A321P2F passenger-to-freighter (P2F) conversion programmes. This follows a