Wednesday, April 17, 2013

Daimler selling EADS stake

Daimler will sell its remaining 7.5 percent stake in EADS, cutting the vehiclemaker's equity ties with the company it helped found. Daimler is offering shares in the Airbus parent to institutional investors with little to no marketing. France, Germany and Spain are reducing state interests in EADS, which in March approved a change in shareholder structure after EADS' bid to merge with BAE Systems failed. Earlier this month French media group Lagardere sold a 7.4 percent EADS stake. (Source: Financial Times, 04/16/13) Gulf Coast note: Airbus is building an A320 assembly line in Mobile, Ala.; Daimler has a Mercedes-Benz plant in Tuscaloosa, Ala.