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EADS In Talks To Buy Part Of French Gov't Stake

Mon, 04/15/2013 - 10:04am
The Associated Press

PARIS (AP) -- 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 Monday that the deal would see it buy back 1.56 percent of its shares from the French government's current 14.83 percent 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 last week.

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.

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