Germany is looking for private investors to buy part of Daimler’s stake in aerospace group EADS, Reuters learned Tuesday. Daimler, the automaker, owns 15% of EADS and has made it clear that it would like to reduce its stake. Germany’s government however, is interested in preserving the Franco-German balance of ownership in EADS, Reuters wrote. The French government and French media group Lagardere hold a combined 22.5% interest in EADS.
(Reuters) – Germany is starting to look for private investors to buy part of Daimler’s (DAIGn.DE) stake in European aerospace group EADS (EAD.PA), sources in the ruling coalition told Reuters on Tuesday.
“The starting shot has been fired,” one source close to the matter told Reuters. Other sources in Chancellor Angela Merkel’s coalition confirmed this, saying that a systematic search would get underway in the coming weeks.
The sources said Berlin was open to one or several owners for a 7.5 percent stake in Airbus maker EADS.
Automaker Daimler, which owns 15 percent of EADS and has voting rights for a further 7.5 percent of its shares held by a consortium of financial investors, made clear earlier this year it wanted to reduce its stake.
The German government is keen to preserve the Franco-German balance of ownership in EADS, however.
The French government and French media group Lagardere (LAGA.PA) together hold 22.5 percent of the aerospace group.
The sources said the government aimed to clear up the matter by the end of the year, though it would not be a problem if it took longer.
(Reporting by Gernot Heller; Editing by Will Waterman)