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France, Germany mull EADS pact post-Daimler: paper
November 12, 2012 / 9:16 AM / 5 years ago

France, Germany mull EADS pact post-Daimler: paper

PARIS (Reuters) - The French and German governments have started talks on whether to maintain their shareholder pact at EADS EAD.PA once German auto maker Daimler (DAIGn.DE) sells its entire stake in the aerospace and defense group, French daily Les Echos reported.

Visitors look at aircraft models at the EADS booth during the ILA Berlin Air Show in Selchow near Schoenefeld south of Berlin, September 13, 2012. REUTERS/Tobias Schwarz

The talks between France and Germany are expected to conclude within a month, the newspaper said on Monday.

Daimler controls a 22.5 percent voting stake in EADS, holding 15 percent directly and controlling the votes of a further 7.5 percent belonging to a consortium of private and public sector investors.

    Under the sensitive pact underpinning the group created in 2000, this is counterbalanced on the French side by a 7.5 percent stake owned by media firm Lagardere (LAGA.PA) and a 15 percent state shareholding.

    Daimler wants to sell its 15 percent stake and has already agreed to sell half by the end of the year to German state-owned development bank KfW KFW.UL as a first step.

    An EADS spokesman declined to comment. The French economy ministry was not immediately available for comment.

    Reporting by Cyril Altmeier; Writing by Elena Berton; Editing by David Holmes

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