Airbus Sells Shares In Dassault

The Airbus Group has sold €794m ($990m) worth of shares in Dassault Aviation back to the company.

The Airbus Group has sold €794m ($990m) worth of shares in Dassault Aviation back to the company.

In total, Airbus sold 810,072 shares at €980 ($1,222) per share in an off-market block trade with Dassault Aviation.

Airbus now holds a 38.32 per cent stake in Dassault Aviation.

This will increase to 42.11 per cent following Dassault’s cancellation of nine per cent of its treasury shares.

The French government agreed to waive its rights for the first offer on the trade, which represents approximately eight per cent of Dassault Aviation’s share capital.

Airbus plans to sell up to a further 10 per cent stake in Dassault Aviation’s, subject to market conditions.

Airbus acquired the shares in its competitor when it bought the French state-owned aerospace firm Aerospatiale.

TAGS: Europe
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