Daimler Keeps Its Stake in EADS

Following a meeting at Germany’s Federal Chancellery on March 16, German group Daimler and a consortium of investors decided for the carmaker to continue to maintain its 22.5 percent voting rights in the European Aeronautic Defence and Space Company (EADS), with an economic interest of 15 percent. The announcement means the balance of voting rights between German and French shareholders remains unchanged.

“The confirmation of the voting-rights structure gives EADS the stability to consistently pursue its strategic goals. Ten years after EADS was founded, Daimler still plays a crucial role in the continuation of this success story of European integration,” Bodo Uebber, Member of the Board of Management of Daimler AG and Chairman of the Supervisory Board of EADS said.

The step was needed because, according to the ownership structure established in 2007, Daimler could have walked out on July 1, 2010. The carmaker decided however to stay, meaning all the existing ownership structure will remain the same after that date as well.

EADS was formed in 2000, from the merger of DaimlerChrysler Aerospace, Aerospatiale-Matra and Construcciones Aeronauticas. It is currently involved in developing civil and military aircraft, missiles, space rockets, satellites, and related systems.

EADS is owned by a consortium of 15 investors, seven private eight public. They include Allianz, Commerzbank, Credit Suisse, Deutsche Bank and Goldman Sachs.