EADS chief calls on France, Germany to give up control

DUBAI - EADS chief Louis Gallois called on Sunday for a change in the shareholding structure of the European aerospace group by which France and Germany would give up their controlling shares.

By Afp

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Published: Mon 14 Nov 2011, 9:10 AM

Last updated: Tue 7 Apr 2015, 7:40 AM

The German government and Daimler had announced on Thursday reaching an agreement that allowed the car manufacturer to reduce its stake in EADS without compromising the delicate French-German balance in the group.

Gallois said that the deal which was presented by Berlin as temporary put an “end to uncertainty” after months of searching for private buyers for Daimler’s share. But “for the long term, the management of EADS has proposed a change in the capital that would help ensure a French-German equilibrium... without the need to have controlling stakes,” he told journalists at the Dubai Airshow.

The proposed change would turn states “into shareholders just like the others, free to withdraw or stay in the company,” he added.

EADS’ proposal was put forward some three or four months ago, Gallois said. On the French side, a 22.5 per cent stake is held in two tiers by the state, through the holding group Sogepa, and another by the Lagardere group.


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