Shareholders agree new structure of EADS
Shareholders in EADS announced yesterday they had reached agreement on the biggest shake-up of control in the aerospace company since it was founded over a decade ago, putting the bulk of its shares beyond government influence.
The accord to wind down a complex Franco-German power-sharing pact came weeks after talks broke down to merge the group with UK defence contractor BAE Systems.
France and Germany have agreed to control 12 per cent each of the voting rights, handing Berlin a direct stake in the Airbus parent company for the first time.
Spain will also have a stake of around 4 per cent.
Until now parity in EADS had been ensured through a complex pact between the French state, French media firm Lagardere and German car firm Daimler. – (Reuters)