ADS Welcomes BEIS announcement on Cobham takeover
Business Secretary Andrea Leadsom today announced she is consulting on undertakings offered by Advent to address national security concerns over its proposed takeover of Cobham.
ADS Chief Executive Paul Everitt said:
“Cobham is a global leader in aerospace, defence and space technology, an important part of the UK’s industrial landscape, and a key supplier to the UK Armed Forces.
“We welcome today’s announcement that Cobham’s proposed buyer has made undertakings to address national security concerns, which the Business Secretary is minded to accept.
“By guaranteeing existing security arrangements, assuring Cobham’s relationship with the Ministry of Defence and making sure the Government is notified of any future sale plans, Advent has made important commitments that will reassure employees, customers and suppliers.”