This is the best summary I could come up with:

The agreement outlined the station’s focus on science and technology development as well as how the collaboration will offer an alternative low-Earth orbit destination.

Starlab will fulfill that role, at least partially, in the future for the space agencies of individual ESA member states.

This will include access for astronaut missions and to conduct research as well as providing opportunities for commercial business development.

Starlab is also set to provide a complete “end-to-end” system in low-Earth orbit to which European crews and cargo will journey.

“ESA appreciates the transatlantic industry initiative for the commercial Starlab space station and the potential that its strong European footprint holds for significant European industrial and institutional contributions to, and use of, said station,” ESA Director General, Josef Aschbacher, said in a statement.

“Our collaboration on this next-generation space station builds on a long and successful partnership between ESA and Airbus in developing and operating a wide range of crewed and uncrewed spacecraft.”

The original article contains 541 words, the summary contains 158 words. Saved 71%. I’m a bot and I’m open source!

This makes me wonder how they will deorbit the ISS, and if it is possible or even desirarable to scavange parts/modules from ISS to a new station

Sad to see science and space more and more in the hands of private companies. That will not bring anything good.