DaimlerChrysler to Cut Stake in Airbus Parent
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From the Associated Press
DaimlerChrysler said it would reduce by 7.5% its stake in European Aeronautic Defense & Space Co., known as EADS, as it focuses on its core automotive business.
DaimlerChrysler holds 30% of EADS, the majority owner of aircraft maker Airbus. The automaker values the 7.5% share it plans to sell at about 2 billion euros ($2.4 billion).
DaimlerChrysler and Netherlands-based EADS said Lagardere, a French media company that holds 15% of EADS, also was reducing its stake by 7.5%.
