Germany mulling direct EADS stake in 2010
Germany aims at replacing a consortium of investors and German states by taking a direct stake in the aerospace group EADS in 2010.
By Agencies |
FRANKFURT: Germany could take a direct stake in the aerospace group EADS in 2010, replacing a consortium of investors and German states, a press report said on Wednesday, quoting an economy ministry official.
"We are all preparing to be able to exercise rights options," on a 7.5 per cent holding currently held by the consortium", a leading newspaper quoted deputy economy minister Peter Hintze as saying.
"A political decision has not yet been taken on this issue," he added.
In March, the consortium of mainly German investors bought the 7.5 per cent stake in the European Aeronautic Defence and Space Company from German carmaker DaimlerChrysler for around 1.5 billion euros (2.0 billion dollars).
EADS is the parent company of European aircraft manufacturer Airbus. The deal included an option to reorganise the capital starting in mid 2010, the FTD said, which would provide and opportunity for the German state to take a direct holding.
Daimler currently owns 22.5 per cent of the shares in EADS, while the French state owns 15 per cent and French industrial and media group Lagardere holds a 7.5 per cent stake.
Both countries feel a balanced presence in EADS' capital is essential and are getting set for talks on how to restructure Airbus so that each preserves high-tech jobs and investment, Hintze said on Tuesday.
"France and Germany will soon begin negotiations on how to preserve both countries' strategic interests in this key sector," he said after a meeting of German Chancellor Angela Merkel with representatives from German states and Daimler president Dieter Zetsche.
"We are all preparing to be able to exercise rights options," on a 7.5 per cent holding currently held by the consortium", a leading newspaper quoted deputy economy minister Peter Hintze as saying.
"A political decision has not yet been taken on this issue," he added.
In March, the consortium of mainly German investors bought the 7.5 per cent stake in the European Aeronautic Defence and Space Company from German carmaker DaimlerChrysler for around 1.5 billion euros (2.0 billion dollars).
EADS is the parent company of European aircraft manufacturer Airbus. The deal included an option to reorganise the capital starting in mid 2010, the FTD said, which would provide and opportunity for the German state to take a direct holding.
Daimler currently owns 22.5 per cent of the shares in EADS, while the French state owns 15 per cent and French industrial and media group Lagardere holds a 7.5 per cent stake.
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Both countries feel a balanced presence in EADS' capital is essential and are getting set for talks on how to restructure Airbus so that each preserves high-tech jobs and investment, Hintze said on Tuesday.
"France and Germany will soon begin negotiations on how to preserve both countries' strategic interests in this key sector," he said after a meeting of German Chancellor Angela Merkel with representatives from German states and Daimler president Dieter Zetsche.
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