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Lagardere says to exit EADS by July 31
March 7, 2013 / 5:10 PM / 5 years ago

Lagardere says to exit EADS by July 31

PARIS (Reuters) - Lagardere (LAGA.PA) expects to sell all of its 7.4 percent stake in aerospace and defence group EADS EAD.PA by July 31, it said on Thursday.

Arnaud Lagardere, CEO of Lagardere, the world's biggest publisher of consumer magazines such as Elle and Paris Match, arrives to announce 2007 earnings at a news conference in Paris March 12, 2008. REUTERS/Charles Platiau

    The sale will be “probably through a share buyback programme for the most part, and directly on the market for the remaining part”, Lagardere said in a results presentation.

    Proceeds will be used for an exceptional cash return to shareholders and for paying down debt, Lagardere added.

    Reporting by James Regan; Editing by Astrid Wendlandt

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