Daimler To Sell Remaining 7.5% EADS Stake

Law360, New York (April 16, 2013, 3:10 PM EDT) -- German automaker Daimler AG has initiated the sale of its remaining 7.5 percent stake in Airbus parent EADS NV, with the Dutch aerospace company telling the automaker it will buy roughly €600 million ($788.4 million) in the offering, Daimler said Tuesday.

Daimler will price the offering for all of its 61.1 million EADS shares on Wednesday, it said. At EADS closing price of €37.20 on the Euronext Paris stock exchange Tuesday, the offering would be valued at roughly €2.27 billion ($3 billion).

The German firm had...
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