Daimler sells EADS shares

City A.M. Reporter
GERMAN carmaker Daimler began selling its remaining stake in Airbus’s owner EADS yesterday as part of a wider overhaul of the European aerospace group’s core ownership nearly 13 years after its creation.

Daimler said it received a waiver from a six-month lock-up period and would immediately begin placing with investors 61.1m shares, equivalent to a 7.5 per cent stake in the Toulouse-based company.

The sale follows French founding shareholder Lagardere’s exit from EADS last week with the sale of a matching stake, paving the way for the aerospace group to have a larger free-market float.