Lagardere Sells EADS Stake for 2.28 Billion Euros
The company, controlled by businessman Arnaud Lagardere, had said late last year it would sell its stake in EADS before the summer as part of a general rejigging of the company's shareholder structure.
"Upon completion of this transaction, Lagardere will have sold its entire stake in EADS," Lagardere said in a statement.
In a separate statement, EADS said it acquired a 1.61% stake worth 500 million euros in the private placement. The operation is part of a wider 18-month share buyback program announced late last year.
Shares of EADS were down 3% on Tuesday, while shares of Lagardere were down 1%.