Lagardere says to exit EADS by July 31

PARIS, March 7 Thu Mar 7, 2013 12:06pm EST

PARIS, March 7 (Reuters) - Lagardere expects to sell all of its 7.4 percent stake in aerospace and defence group EADS by July 31, it said on Thursday.

The sale will be "probably through a share buyback programme for the most part, and directly on the market for the remaining part", Lagardere said in a results presentation.

Proceeds will be used for an exceptional cash return to shareholders and for paying down debt, Lagardere added.