France's Hollande: EADS Pact Gives Company More Freedom to Develop
December 05 2012 - 1:48PM
Dow Jones News
By Inti Landauro
PARIS-- French President Francois Hollande said the new
agreement reached by shareholders of European aerospace company
EADS (EAD.FR) gives the company more freedom to develop and
protects the national interests of France, Germany and Spain.
Mr. Hollande said the company committed to maintain its
headquarters in the French city of Toulouse and to maintain the
headquarters of its units Astrium, Airbus and Eurocopter in France
and Cassidian in Germany.
Under the plan, which must still be approved by the board and
shareholders of EADS, the French and German governments will hold
equal stakes of up to 12% in the company while founding
shareholders Daimler AG (DIA.XE) and Lagardere SCA (MMB.FR) will
sell their stakes.
The company will also buy back as much as 15% of its own
shares.
-Write to Inti Landauro at inti.landauro@dowjones.com