Thursday, December 6, 2012
EADS deal ends state grip
In a restructuing of EADS, France and Germany ending their grip on the board room two months after the collapse of merger talks with BAE Systems. The first beneficiary is German auto group Daimler, which raised over $2 billion selling holdings as share prices rose. The European Aeronatuc Defense and Space company owns aircraft maker Airbus, along with businesses that build rocket and missile lauhers, satellites, fighter aircraft and helicopters. Under the new plan, German and French state interests will hold 12 percent each, and Spain will hold 4 percent. (Sources: multiple, including AFP via Space Wars; Reuters, 12/06/12) Gulf Coast note: EADS subsidiary Airbus plans to build an aircraft assembly line in Mobile, Ala.