BAE Systems' 20 percent stake in Airbus: Further step in sale process triggered by BAE Systems
Amsterdam, 02 May 2006
EADS confirms it has entered into a new phase in the consultations with BAE Systems on the potential sale of BAE Systems' 20 percent stake in Airbus. This follows the issuance by BAE Systems of a Put Option Intention Notice, a process contemplated in the Airbus Shareholders Agreement signed in 2001.
Following completion of this consultation process, BAE Systems may - but is not obliged to - formally exercise its put option. At this point, there can be no certainty as to the result of this phase, however the negotiations will now be governed by the guidelines within the Airbus Shareholders Agreement.
Further steps will be communicated at the appropriate time but for the present the parties do not intend to make further comments.
EADS is a global leader in aerospace, defence and related services. In 2005, EADS generated revenues of € 34.2 billion and employed a workforce of about 113,000. The EADS Group includes the aircraft manufacturer Airbus, the world's largest helicopter supplier Eurocopter and the joint venture MBDA, the international leader in missile systems. EADS is the major partner in the Eurofighter consortium, is the prime contractor for the Ariane launcher, develops the A400M military transport aircraft and is the largest industrial partner for the European satellite navigation system Galileo.
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