by Staff Writers
Paris (AFP) April 26, 2013
The French state raised another 707 million euros ($921 million) from the sale of a 2.1 percent stake in EADS to investors, the economy ministry said in a statement.
The sale of 17.6 million shares follows the sale by France earlier this month of roughly 13 million shares back to the company itself for 483 million euros as part of EADS share buyback programme.
EADS, which owns passenger aircraft maker Airbus, announced a share buyback programme earlier this month as part of a wider restructuring that will reduce state ownership and interference in the company.
Germany and Spain also own stakes in the company.
The two operations, which brought the French state nearly 1.2 billion euros, should help preserve "the strategic interests of the state and free up capital resources for new economic growth sectors," said the ministry.
France, which is struggling to meet its commitments to the EU to reduce its public deficit, last month took advantage of high prices for shares in the aircraft engine and equipment manufacturer Safran to sell a 3.12 percent stake and raise 448.5 million euros.
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