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Lagardere begins sale of EADS stake
April 8, 2013 / 5:46 PM / 4 years ago

Lagardere begins sale of EADS stake

Logo of EADS is seen at the European aerospace and defence group EADS headquarters in Les Mureaux near Paris January 12, 2011. REUTERS/Charles Platiau

PARIS (Reuters) - French media group Lagardere (LAGA.PA) has begun selling its 7.4 percent stake in Airbus parent EADS EAD.PA, a key element of the group’s planned ownership restructuring.

The sale of the stake, worth 2.4 billion euros ($3.12 billion) at current prices, will be conducted via a private placement, Lagardere said in a statement on Monday. Merrill Lynch and Societe Generale are global coordinators and bookrunners.

EADS has committed to buying back 500 million euros’ ($650.85 million) worth of shares, Lagardere added.

($1=0.7682 euros)

Reporting by Lionel Laurent; Editing by Greg Mahlich

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