BAE Systems today has formally exercised the put option regarding its 20 percent stake in Airbus. EADS and BAE Systems will seek to finalize their negotiations regarding the sale of BAE Systems' Airbus stake to EADS during the coming weeks. The finalisation of the transaction will be subject to BAE Systems shareholders' approval and will make EADS the sole shareholder of Airbus. Already in April 2006, BAE Systems announced its intention to sell its stake in Airbus.
If BAE Systems and EADS are unable to agree on the terms of the sale, in accordance with the Airbus shareholders’ agreement, an investment bank acting as an expert will be appointed to determine the price to be paid by EADS. EADS retains the right to pay in cash, in shares or in a mixture of both.
Further steps will be communicated if and when appropriate.
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.
