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Airbus Buys German Bank for In-House Finance Unit

The Airbus Group, the parent company of the European plane maker, said Friday that it would acquire Salzburg München Bank, a small German private lender, to develop into an in-house bank providing loans to suppliers and other small-business partners. The purchase, for which financial details were not disclosed, signals the first step in a project that the Airbus Group, formerly known as European Aeronautic Defense and Space, began studying in 2010. That was during the depths of the European… ( More...

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