Daimler to keep its stake in EADS

• Source: Shanghai Daily
• [08:41 March 22 2010]
• Comments

Germany's Daimler AG says it will not use an option to sell its stake in defense contractor EADS NV.

Stuttgart-based Daimler, which is best known for cars and trucks, owns 22.5 percent of the voting rights and 15 percent of the equity in Paris-based European Aeronautic Defence & Space Co, the parent company of aircraft manufacturer Airbus.

Daimler said last Friday that by keeping its investment unchanged, the balance of voting rights between German and French shareholders also remains unchanged.

The news comes amid reports that Daimler was considering selling some of its ownership in EADS.

EADS is owned by a number of shareholders, including the French government, French conglomerate Lagardere SA and Spanish holding company SEPI.