EADS confirms it is entering into the very early stages of a discussion on the potential disposal of BAE Systems' 20 percent stake in Airbus. BAE Systems' management called EADS' management Thursday evening to initiate the talks.
EADS welcomes the opportunity to increase its stake in Airbus, which holds the potential of simplifying Airbus governance. EADS was anticipating the possibility of such a move and is fully prepared to move ahead constructively.
The initiation of these discussions does not represent an exercise of the put option held by BAE Systems in relation to this stake. EADS intend to work diligently together with BAE Systems towards a value that is fair to both parties. The schedule of the discussions cannot be anticipated and there can be no certainty as to their outcome. Meanwhile, there will be no further comments by EADS until discussions are closed or it considers it is appropriate to do so.
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.
