EADS unveils new shareholding structure, like a 'normal company'
December 7, 2012, 12:05 am TWN
PARIS--The European Aeronautic Defense and Space Company (EADS), which owns the civilian aircraft maker Airbus, said on Wednesday that its shareholders have agreed on a new structure that will leave France and Germany each with 12-percent stakes and Spain with 4 percent.
The new framework is set to make EADS much more independent of its state shareholders, allowing it to operate like "a normal company" according to analysts who tracked a closed-door presentation by the aerospace group early this week in London.
A statement issued immediately afterwards by the French presidency said the deal would "guarantee the interests of the French, German and Spanish states within the group."
But it would also give EADS "the freedom of movement it needs to pursue its development," the statement added.
EADS also said that it would buy back up to 15 percent of its free-floating capital in the first half of next year.