Published March 27, 2013
AMSTERDAM – Spain plans to sell 1.15 percent of EADS as the aerospace company switches to a new corporate structure, EADS said on Wednesday.
Spain, which owns more than 5 percent of the Airbus parent company, had been expected to keep a core stake of 4 percent and place the rest in a special foundation set up to handle surplus government stakes in order to keep EADS within Dutch takeover rules.
EADS said in a statement that the parties to the agreement, which include France and Germany, had agreed an amendment allowing Spain to sell 1.15 percent by April 9.
EADS shareholders are expected to adopt the broader shake-up of EADS corporate governance at a special meeting in Amsterdam later on Wednesday.
(Reporting by Tim Hepher; Editing by James Regan)