12 May 2004 00:23
EADS hopes for stake of between 5% and 10% in Irkut (EADS plant Einstieg beim russischen Flugzeugbauer
Irkut)
The European Aeronautic Defence and Space Company (EADS), the aerospace group created through the merger of
France's Aerospatiale Matra, Spain's CASA and Germany's DaimlerChrysler Aerospace AG (DASA), is reported
to be planning to acquire a stake of between 5 and 10 per cent in Irkut Corp., Russia's second-largest aircraft
manufacturer. Irkut is the first Russian aircraft company to be listed on the Moscow stock exchange, having carried out
its IPO in March, and was valued at almost $510m on the stock market yesterday.
It is estimated that a 10 per cent stake would therefore cost $51m based on the current valuation. EADS, which formed
its own Russian subsidiary in March, is expected to complete the transaction by the end of this year. The deal still
requires approval by the relevant governments.
Original article by Gerhard Hegmann
Abstracted from Financial Times Deutschland
[Financial Times Deutschland] |
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