France’s Lagardere could sell EADS stake next year — CEO

EADS

French media and industrial group Lagardere SCA (EPA:MMB) is likely to dispose of its 7.5% stake in European aerospace and defence group EADS NV (EPA:EAD) in 2013, CEO Arnaud Lagardere said in a conference call today.

The announcement comes after British defence contractor BAE Systems Plc (LON:BA) and EADS last month terminated their talks regarding a possible merger.

According to Arnaud Lagardere, who is also EADS chairman, the programmes for the future A350 aircraft and the A400M military transport plane were progressing, which could provide an opportunity for the company to sell its interest.

Lagardere acquired its EADS interest under an agreement aimed at preserving the balance between the company’s French and German shareholders. The French government holds 15% in EADS and German carmaker Daimler AG (ETR:DAI) owns a 15% stake and 22.5% of the defence group’s votes.

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