Airbus buys German lender to boost financing options

Move would allow it to deposit funds with the ECB

[PARIS] Airbus Group pressed ahead with post-Lehman plans to acquire its own banking licence, saying that it would buy small German lender Salzburg Muenchen Bank AG to boost its financing options.

The European aerospace group, formerly known as EADS, first disclosed the plans in 2012 after becoming concerned about where to place its large cash pile during the credit crisis.

Owning a banking licence would allow the world's second-largest aerospace group to deposit funds with the European Central Bank,...

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