Lagardere Exits EADS For $3B Amid Strategic Changes

Law360, New York (April 9, 2013, 3:22 PM EDT) -- French conglomerate Lagardere SCA sold its minority stake in Airbus parent EADS NV for €2.3 billion ($3 billion), it said Tuesday, wrapping up its exit from the company in line with plans for a strategic overhaul unveiled by the aircraft maker last year.

Lagardere sold its 7.4 percent interest in a private placement. In the deal, EADS forked over €500 million to recoup a 1.61 percent stake as part of its share-buyback plan targeting up to 15 percent of the company's outstanding shares.

“Upon completion of...
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