German State-owned Lender KfW Might Take Over Stake In EADS
28 March 2012 - 10:19PM
Dow Jones News
Germany's state-owned development bank Kreditanstalt fuer
Wiederaufbau, or KfW, said Wednesday it might take over a 7.5%
stake in European Aeronautic Defence & Space Co. EADS NV
(EAD.FR) from luxury car maker Daimler AG (DAI.XE) in the second
half of the year and an additional 4.5% held by commercial banks
and insurers.
"We could buy Daimler's 7.5% stake" if the German government
gives the go-ahead, said KfW Chief Executive Ulrich Schroeder,
adding that all legal questions have to be cleared which won't be
before the second half of this year.
Schroeder said the commercial partners of the Dedalus consortium
"appear to be poised to sell their 4.5% stake," which could also be
bought by the state-owned lender. The public lenders of the Dedalus
consortium, however, don't seem willing to sell their stake at the
moment, he added.
The Dedalus consortium in total holds 7.5% in EADS. Of this 4.5%
which belongs to commercial banks and insurers like Deutsche Bank
AG (DBK.XE) and Allianz SE (ALV.XE).
-By Eyk Henning, Dow Jones Newswires; 49-69-29725-108;
eyk.henning@dowjones.com