Half a billion euros for 1.56% of France’s 14.83% stake in the aerospace giant.
April 15, 2013
by ASSOCIATED PRESS
PARIS — The parent company of European jet maker Airbus says it is in talks to buy back almost half a billion euros worth of its own stock from the French government.
European aerospace giant EADS says in a statement the deal would see it buy back 1.56% of its shares from the French government’s current 14.83% stake. The company will pay 37.35 euros per share – about the same as French media group Lagardere was paid when it sold its entire stake.
Earlier this month EADS launched a 3.75 billion euro share buyback program. The French government has also recently indicated its intention to trim its shareholdings.