Germany Plans to Buy Share in EADS to Balance France image

Germany plans to buy from Daimler a stake in aerospace group EADS by the end of the year.

The German KfW bank agreed to buy a 7.5% stake in EADS from Daimler to make sure the Franco-German balance is retained within the company’s shareholding structure. The deal was made after EADS CEO Tom Enders announced he would like less state influence at the group.

“There’s a range of legal issues to be cleared. I believe we will manage it this year,” Peter Hintze said on Monday after meeting his French, British and Spanish counterparts at the Farnborough Airshow.

Hintze also said that if France will sell its stake, Germany will do the same, due to the agreement to keep the shareholder balance. But currently Germany fights for a share in Airbus’ research and development and Hintze said he has already sent a letter to the company to express this point.

“If Airbus already shared this view, then my letter will have been received fine. If they didn’t feel this way, then it was important for the message to reach them,” Hintze said, although he admitted Germany’s concerns had not been discussed at the meeting on Monday.